GiG completes €16.4m acquisition of 80% of 888AFRICA
The B2B technology supplier says it paid €6.1m at completion, with €10.3m to follow in instalments over 10 months.
Reviewed by iGaming News Desk
GiG Software reported on October 1 that it had completed its acquisition of an 80% stake in 888AFRICA, after satisfying the conditions in a share purchase agreement announced on September 28. The total consideration is €16.4 million: GiG says €6.1 million was paid at completion, with €10.3 million payable in instalments over the following 10 months. [1] [3]
GiG described 888AFRICA as an operator with a leading position in Mozambique and licensed operations in Angola and Tanzania. It put the business’s annualised NGR run rate at about $50 million. In its signing announcement, GiG reported second-quarter 2026 revenue growth of 17% quarter on quarter and 30% year on year, with a 13% adjusted EBITDA margin. These are company-reported figures, not audited country-level results. [1] [2]
The acquisition adds majority ownership of a consumer-facing operator to GiG’s existing B2B technology business. GiG forecast combined FY2026 revenue of €44 million to €48 million and adjusted EBITDA of €5 million to €7 million, assuming a full 888AFRICA contribution in Q4. Those ranges are guidance, not reported results; neither the transaction nor the forecast shows that integration or anticipated benefits have been realized. Global Gaming Insider reported the completion on October 2, but its deal terms and target metrics largely repeat GiG’s disclosures. [2] [3]
Sources
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