GiG Software Acquires 80% of 888Africa in €16.4m Deal, Re-entering B2C Market

The B2B iGaming technology company GiG Software Plc has confirmed a definitive agreement to acquire an 80 per cent majority stake in the African-market operator, 888Africa. According to the terms of the deal, the Malta-based and Stockholm-listed supplier will pay €16.4 million for the controlling interest. This transaction effectively brings the Gibraltar-registered 888Africa, which operates across several African jurisdictions, under the corporate umbrella of GiG.

Strategic Return to B2C Operations

This acquisition represents a significant strategic reversal for GiG Software, marking its first major re-entry into the business-to-consumer (B2C) gambling vertical in recent years. In 2023, the company undertook a corporate restructuring to pivot towards a pure B2B model, a move designed to focus its resources on supplying its proprietary platform and technology to other gaming operators. By taking a majority share in 888Africa, an established operator led by chief executive Christopher Coyne, GiG is now re-engaging with direct-to-consumer activities. The move diversifies its business model from being solely a technology supplier to also being a direct operator in what are considered high-growth emerging markets.

Complex Legal Advisory

The complex legal arrangements underpinning the transaction were handled on behalf of 888Africa and its founding shareholders by the law firm Hugh James. The firm provided comprehensive legal counsel throughout the deal's lifecycle, ensuring the interests of the shareholders were represented. Its involvement began during the preliminary stages of negotiation, offering crucial advice on the initial Heads of Terms that outlined the commercial framework of the acquisition. As the deal progressed towards completion, the legal team's role expanded to advising on the intricacies of the revised shareholding structure and drafting the final, binding transaction documentation required to complete the sale of the majority stake.

A specialist team from the firm's corporate and commercial department was assembled to manage the legal aspects of the high-profile deal. The team was headed by Aled Walters, a corporate partner who also serves as the firm's head of commercial. Key strategic support was provided by fellow Corporate and Commercial Partners Andrew Hoard and Gemma Davies. Further detailed legal work and due diligence on the transaction was delivered by solicitors Daniel Tedd and Joshua Lee, who worked to ensure all legal requirements for the multi-jurisdictional gaming sector deal were met and the transaction could proceed smoothly.

The deal brings together two distinct but complementary entities in the global iGaming ecosystem. The target company, 888Africa, is a Gibraltar-registered entity focused on capturing market share in various regulated and emerging African territories. The acquirer, GiG Software Plc, is a well-established B2B technology and platform supplier headquartered in Malta, with its shares publicly traded on the Stockholm stock exchange. This acquisition pairs GiG's technological expertise and platform capabilities with 888Africa's specific regional operational experience and market access.