GIG to acquire affiliate assets from Magenti Media
Gaming Innovation Group (GIG) has agreed a deal to acquire the affiliate assets from Sweden-based affiliate network company Magenti Media.
The acquisition, said to be worth SEK47.5 million (€5.1 million/$5.8 million), will see GIG acquire a number of referral sites, a team of SEO experts and recurring revenues from Magenti’s existing portfolio of affiliate accounts with partnering operators.
The acquired assets are set to compliment GIG’s existing affiliate operations, boosting the company’s profit by approximately €1 million a year.
The affiliate network, which mainly targets the Swedish casino market, is also set to generate more than 45,000 new depositing customers to B2B clients and GIG’s own operators on a yearly basis.
Once due diligence is complete, the deal is expected to be concluded by May of this year.
Commenting on the acquisition, Robin Reed, chief executive of GIG, said: “We are happy to conclude the acquisition of a growing, high value affiliate network which will enhance Innovation Labs’ position in referring paying users in the Swedish casino market.
“In addition to the acquired assets, it is agreed to merge the talents of the companies, bringing in over 10 years of iGaming online marketing experience from Magenti Media.
“As we are building out our distribution channel for the top performing brands in the industry, we need the best people available to deliver even more quality online resources for end-users.”
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