Gaming Innovation Group Inc. (GIG) has agreed to acquire the affiliate assets from the Swedish based affiliate network company Magenti Media. Included in the acquisition are a four-figured number of referral sites, a highly experienced team of Search Engine Optimization (SEO) experts and recurring revenues from the existing portfolio of affiliate accounts with partnering operators. The affiliate network is mainly targeting the Swedish casino market, and the acquisition is further strengthening GIG as a leading lead generation company for the online gambling sector.

The acquired assets complement the already existing affiliate operations in Innovation Labs, and through increased activity and synergies, GIG expects to increase operating profit by around EUR 1 million on a 12 months rolling basis from completion of the acquisition.

After the acquisition, Innovation Labs expects to generate more than 45,000 New Depositing Customers (NDC’s) to B2B clients and GIG’s own operators on a yearly basis.

GIG will pay a consideration of SEK 47.5 million, whereof SEK 32 million will be settled with new GIG shares based on the average share price the five trading days prior to closing. In addition, 1 million options will be issued to the employees at closing on terms to be defined. The acquisition is subject to a satisfactory due diligence, and is expected to be concluded in May 2016.