Gaming Innovation Group acquires Rebel Penguin
For a total amount of €13 million the Gaming Innovation Group Inc. (GIG), through its subsidiary GIG Media acquires Rebel Penguin, the technology driven Danish performance marketing company.
With the extremely competitive and proprietary technology of Rebel Penguins GIG Media joins the paid media space, reaching distribution platforms such as Google and Facebook. As a result of the acquisition GIG Media is positioned as a 360 degree digital marketing company, shown in all significant channels.
Important step to increase the GIG sportsbetting capabilities in advance of the World Cup 2018
Rebel Penguin (RP) was able to generate more than 155,000 paying clients to sports betting customers in the Nordics & the UK, since its foundation in 2007. Therefore, the acquisition of RP is an important initiative by GIG as part of the company’s strategy to increase its sportsbetting capabilities before the World Cup in 2018.
So far, RP has not joined the casino market in which GIG holds a leading and expeditiously growing presence. Accordingly, the casino segment stands for an attractive and untapped potential.
To benefit all business segments of GIG, RP will provide an extended volume of new players into GIG’s eco-system. Furthermore, valuable strategical and technological knowledge to GIG’s B2C and B2B gaming operators will be added by the RP’s in-house affiliate agency.
Per year, the cost synergies are expected to be at least €1 million. Additionally, Rebel Penguin will contribute noticeably to GIGs revenues. The annual revenue run-rate of Rebel Penguins is around €6.8 million, of which the corresponding EBITDA is around €2.3 million. The company is based in Copenhagen and counts more than 30 employees, which will all be retained.
GIG CEO Robin Reed stated: “This milestone reinforces our position among the three main areas“
“This is another milestone for GIG Media. Through this acquisition, we will reach millions of monthly ad placements throughout major distribution channels such as Facebook and Google. We strengthen our position in three main areas: paid media, regulated markets, and sportsbetting. For sportsbetting operators we increase traffic driving capability significantly. Finally, we bolt on Rebel Penguins proprietary technology to our platform and add 30 highly competent marketers,” said Robin Reed, CEO of GIG.
€9.1 million in cash and 7,165,000 GIG shares will settle the acquisition balance. There will be a 12 month lock up on the shares. Gaming Innovation Group will use its treasury shares and the €896,656,266 remaining GIG share will not be changed. The shares of GIG are expected to be decreased from 7,165,000 to zero, or from 0.80% to 0% of the remaining shares, in September 2017.
GIG Media, fast-developing online marketing company in iGaming, is a subsidiary of GIG. It is mainly focused on referring users to pay to B2B clients on revenue share agreements. GIG Media creates traffic to owned websites by acquiring competitive rankings in search engine by way of SEO. These platforms offer quality content and guides for the gaming industry and can be used as paths by operators. Through data driven media purchasing techniques GIG Media also refers paying customers.
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