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NEWS 17 July 2017

GIG strengthens hand in the Nordics with STK Marketing acquisition

By Tom Lewis
Gaming Innovation Group (GIG) has agreed to acquire all assets in one of Scandinavia’s largest affiliate networks, STK Marketing, for a total consideration of NOK 240m (€26m).

Completed through its subsidiary Innovation Labs, the deal is GIG’s largest affiliate acquisition to date, and marks the firm’s fourth acquisition of 2017.

GIG detailed in a market update that it expects the acquired assets to generate more than €7m in EBITDA during the first 12 months after the completion of the transaction, with around 70% of this EBITDA expected to come through perpetual revenue share agreements.

Robin Reed, GIG Chief Executive said: “We have set an ambition for Innovation Labs to become the largest lead generation business in iGaming and we are well underway in realising this. Furthermore, we have now established a leading position in the Nordic affiliate market.

“In line with previous acquisitions and GIG´s vision, the Stk acquisition will enable Innovation Labs to refer more customers to our B2B partners and thus benefit all parties engaged in the expanding GIG iGaming eco-system".

GIG’s other affiliate acquisitions this year include the purchase of Casino Tops Online, announced in March for a total of €11.5m.

RELATED TAGS: Mergers & Acquisitions | Affiliate
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