IG will pay a consideration of €440,000 ($495,400) in addition to 1,021,000 new GIG shares for the network. Under the agreement, Innovation Labs will take ownership of the affiliate network, as well as associated affiliate agreements and future revenues.
Innovation Labs said that it expects the network to generate more than 15,000 new depositing customers for B2B clients over the next three years, which will in turn help strengthen the firm’s presence in the online gaming sector.
Robin Reed, who was last week confirmed as the new chief executive officer of GIG, said: “We are delighted to conclude our second acquisition of a growing high value affiliate network in our target markets in a short timeframe.”
“Not only are we increasing our capability of driving paying users to partnering operators, but we are also creating a distribution channel to bundle with our platform service ‘iGamingCloud’.”, added.