ng Innovation Group Inc. and its subsidiary Innovation Labs has agreed to acquire a non-disclosed affiliate network for a total consideration of €5.7m. The highly regarded network in question specifically targets sportsbook players in the DACH region, looking towards Germany, Austria and Switzerland as its key markets.

The acquisition includes a network of sportsbook websites, in addition to all other related assets and IP and affiliate accounts. The new partner also provides reviews and betting tips to punters on upcoming sporting events.

Current yearly revenue run-rate of the acquired assets is approximately €1.4m and it has a strong EBIT margin of approximately 85%.

Furthermore, the acquisition of the network is expected to add at least another 5,000 First Time Depositors over the next 12 months.

GIG CEO, Robin Reed comments: “We aim to make Innovation Labs the largest lead generation business in iGaming. Through this acquisition, we are entering the DACH markets whom are likely to be re-regulated in the future, and are therefore markets we are increasingly focused on.”

The transition is subject to satisfactory due diligence and final board approval, with closing expected to be in June this year.