Gaming Innovation Group (GiG) has agreed to acquire SEO and content services supplier Titan for total consideration of €3.2 million (£2.7 million / $3.4 million).
GiG will make an upfront payment of €1 million upon completion, followed by €1 million 12 months later and €1.2 million 24 months later. The group expects to complete its acquisition of Titan in July.
GiG described the acquisition as a strategic one, saying it would significantly improve its operational efficiency and market position.
GiG also noted that expected cost savings and operational efficiencies underscore the strategic rationale for the acquisition: the operations transferred to Titan are expected to reduce GiG Media's SEO and content costs by up to 50%.
GiG further stated that Titan's expertise will improve the quality and turnaround times of GiG Media's content and SEO services, leading to increased revenue for GiG Media's publishing business.
For the 2023 financial year, Titan expects revenues of €3.3 million and an EBITDA equivalent to €720,000.
Acquisition supports GiG's broader growth plans
“This acquisition demonstrates our drive to continuously optimize our value chain, revenue and EBITDA margins,” said Jonas Waller, CEO of GiG. “By integrating Titan's SEO and content expertise, we will realize significant cost savings while at the same time significantly improving the quality of our services.”
“This move is in line with our strategy to solidify our leadership position in the online gambling market and demonstrates how we are driving growth and efficiencies.”
Titan co-CEO and co-founder Lee Tadd added: “We are excited 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.”
M&A push continues ahead of GiG division
Titan will become the latest addition to the growing GiG business as preparations for the planned demerger get underway.
Earlier this month, GiG also agreed to acquire online casino forum and review platform Casinomeister for €3 million, a deal that is expected to close by the end of the month.
GiG said Casinomeister will continue to operate under its current brand name within the GiG Media portfolio, adding that the group aims to leverage synergies between GiG Media and Casinomeister to achieve a similar development seen with AskGamblers following the acquisition.
The group acquired AskGamblers in February 2023 and also acquired KaFe Rocks late last year.
All of this comes as GiG prepares to split its business in half, as announced early last year, which will see GiG Media and Platform and Sportsbook become separate businesses.
As GiG continues to work, it recently published first quarter results across its businesses to enable year-on-year comparisons. Total group revenue increased 27.5% to a new record high of €36.2 million, of which €28 million came from GiG Media and Platforms and €8.3 million from GiG Sportsbook.