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.