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GiG Signs €16.4M Deal for 80% of 888AFRICA

GiG Signs €16.4M Deal for 80% of 888AFRICA
GiG Software has signed a binding agreement to acquire 80% of African betting and gaming operator 888AFRICA for €16.4 million. The transaction is due to be finalised by September 30.

The September 28 announcement from GiG moves the deal beyond the preliminary terms disclosed in August. At that stage, the companies had agreed the main commercial terms but still needed to sign the share purchase agreement.

GiG will pay €6.1 million when the transaction closes. Another €10.3 million is due over the following 10 months. That puts only 37.2% of the stated purchase price at completion, with the remaining 62.8% deferred.

888AFRICA Reached $50M Annualized NGR

888AFRICA started operating in late 2022 and has since reached an annualized NGR run rate of about $50 million. The business has a leading position in Mozambique and also holds licenses in Angola and Tanzania.

Its Q2 2026 figures included:

  • Revenue up 30% year over year;
  • Revenue up 17% from Q1;
  • A 13% adjusted EBITDA margin;
  • More than $1 million in net cash generated during the quarter.

The €16.4 million consideration covers an 80% stake. On the same stated price basis, that implies a value of about €20.5 million for 100% of 888AFRICA.

That figure is an implied equity value from the transaction price rather than an enterprise-value multiple. GiG has not provided the debt and cash detail needed to turn it into a comparable acquisition multiple.

GiG Adds a B2C Business to Its B2B Group

The acquisition also changes GiG’s business mix. GiG Software currently operates as a B2B technology supplier. 888AFRICA is a consumer-facing operator with existing players, local licenses and direct gaming revenue. GiG said the acquisition will provide immediate entry into regulated African markets and add the operator’s revenue to the group from completion.

There is also a technology angle. GiG identified platform consolidation as one source of possible synergies after the transaction closes. For GiG, this means the company will not only supply technology to operators. It will control a B2C gambling business in three African markets while continuing to run its platform operation.

888AFRICA Adds Meaningful Scale

The immediate financial contribution is already material against GiG’s existing size. GiG reported €8.8 million of revenue in Q2 2026, while the acquired business is running at roughly $50 million of annualized NGR.

The transaction is scheduled to be completed by September 30.