ling Innovation Group and its subsidiary Innovation Labs have acquired affiliate website Casinotopsonline for a consideration of €11.5m.

Continuing its M&A focused growth strategy and industry affiliate marketing services expansion by confirming that as its latest acquisition to date, it will significantly strengthen its position as a leading affiliate in Europe.

GIG governance detailed that on completion of the takeover, it expects Casinotopsonline to make a direct contribution to corporate revenues and performance.

Casinotopsonline has a reported €3m yearly revenue run rate as one of Europe’s largest online casino review portals. The website provides casino players with comprehensive information about the top places to play online as well as other informative services with the aim of helping customers to make the best of their iGaming experience.

The Oslo-listed company said it expect to boost Casinotopsonline.com’s revenue by “25% in the short term”.

This is Innovation Labs’ largest acquisition to date and will GIG CEO Robin Reed comments on the acquisition saying: “The aim of GIG is to build the largest distribution network in iGaming for our clients and suppliers, and as such creating an eco-system for iGaming. This acquisition is our largest in the affiliate space till date and will significantly increase our traffic driving capability.

“More so it was done facing stiff competition, at an attractive multiple of four on current revenue run-rate, excluding potential cost and revenue synergies. We are delighted to acquire casinotopsonline.com.”

Subject to due diligence and board approval, the transaction is expected to be closed in April 2017.