GiG Software Plc Signs Share Purchase Agreement for Proposed Acquisition of 888AFRICA
28 September 2026
GiG Software Plc
("GiG" or the "Company")
GiG Software Plc Signs Share Purchase Agreement for Proposed Acquisition of 888AFRICA
GiG Software Plc (First North: GiG SDB; OTCQX: GIGXF), a leading B2B iGaming technology company, is pleased to announce that it has now entered into a binding share purchase agreement (“SPA”) relating to the proposed acquisition (the “Acquisition”) of an 80% stake of 888AFRICA, a leading African B2C operator, for a total consideration of €16.4m, with the transaction to be finalised by 30 September 2026.
888AFRICA is a profitable, high-growth African B2C operator with a market leading position in Mozambique and licensed operations in Angola and Tanzania, having grown from start-up in late 2022 to a run rate of approximately $50 million of annualised NGR. 888AFRICA delivered 17% quarter on quarter revenue growth and 30% year on year growth in the second quarter of 2026, with adjusted EBITDA margin expanding to 13% as cost actions take effect, generating over $1 million of net cash in Q2 2026 alone.
Acquisition Rationale
- Delivers Immediate impact; The Acquisition adds immediate scale, geographic diversification and product leadership to the GiG platform.
- New geography, proven revenue base; Entry into high-growth, regulated African markets through an established operator with an existing player base and licences.
- Immediate top-line scale; $50m annualised NGR run rate adds meaningful scale to the combined group from completion.
- Disciplined deal structure; Phased consideration of €6.1m on completion, with the remaining €10.3m payable over the following 10 months.
- Cash generation and synergy upside; Consistent cash generation from the combined group strengthens the balance sheet, with further upside from synergies still to be realised, including platform consolidation.
Richard Carter, Chief Executive Officer of GIG, commented:
"We are delighted to have signed the Share Purchase Agreement, an important milestone in what is a highly strategic acquisition for our business.
888AFRICA adds immediate scale and exposure to attractive, regulated African markets. Importantly, we are delivering this growth through a disciplined capital structure, with a cash-generative business that strengthens the Group’s financial position from completion. Combined with enhanced product capability and significant synergy potential, we see a clear opportunity to create long-term value for shareholders.”
Christopher Coyne, Chief Executive Officer of 888AFRICA, commented:
"Joining forces with GiG is an incredibly exciting moment for 888AFRICA. Since we started this business, our ambition has always been to build something that could compete at the highest level in African iGaming, and becoming part of the GiG ecosystem gives us the platform, technology and reach to do exactly that. GiG's product capability and track record as a leading B2B operator make it the natural partner to help us accelerate our growth across Mozambique, Angola and Tanzania, and into new markets beyond. I'm proud of what our team has built, and I'm excited about what we can achieve together as part of the wider GiG family."
For further information, please contact:
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GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer |
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Vigo Consulting (Investor Relations) Jeremy Garcia / Georgina Moul |
Tel: +44 (0) 20 7390 0230 |
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiG’s proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiG’s vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
Find out more at www.gig.com.
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