GiG to acquire SEO experts Titan after penning head-of-terms agreement
The deal is expected to close by the end of July as Malta-based firm aims to slash the cost of its SEO and content-related services in half
Gaming Innovation Group (GiG) has signed a head-of-terms agreement to acquire Titan, a SEO and content services supplier, in a seven-figure deal.
The transaction will cost GiG €3.2m, with €1m payable at closing, as well as €1m 12 months later before the final €1.2m two years after the closing date.
GiG is hoping to reduce its SEO and content costs by up to 50% after integrating Titan’s services, according to the business.
Last year, Titan generated revenue of €3.3m alongside an EBITDA of €700,000. The deal is expected to close next month.
GiG’s interim CEO Jonas Warrer explained how the acquisition will help the group “achieve substantial cost savings” in his comments.
He claimed: “This acquisition highlights our ambition to continue optimising our value chain, revenue and EBITDA margin.
“We will achieve substantial cost savings by integrating Titan’s SEO and content expertise while significantly enhancing our service quality.
“This move aligns with our strategy to solidify our leadership position in the online gambling market, demonstrating how we drive growth and efficiency.”
Titan co-CEO and co-founder Lee Tadd expressed his delight at the news, adding: “We are thrilled to join forces with GiG Media.
“Our combined expertise will enable us to deliver exceptional value to our clients and stakeholders. We look forward to leveraging our strengths to drive innovation and excellence in SEO and content services.”
Earlier this month, GiG confirmed it had reissued SEK100m (£7.5m) worth of shares to try and attract “high-quality investors” and raise capital before the business’ split in Q3.
Two weeks prior, GiG acquired online casino affiliate Casinomeister for a fee of €3m.
The company made clear that Casinomeister will operate under its existing brand, as “significant growth” is expected to follow, akin to the trajectory of AskGamblers, which was acquired by GiG at the back end of 2022.
The acquisitions of both Titan and Casinomeister come one month after interim chief Warrer downplayed any talk of further M&A activity.
“You can say we need to onboard KaFe Rocks [Time2play] fully and to excel together with them and then there would maybe be a bigger acquisition that we could consider again,” Warrer told analysts on a follow up call after GiG posted Q1 revenue of €36.2m.