{"id":32147,"date":"2026-08-27T07:55:11","date_gmt":"2026-08-27T10:55:11","guid":{"rendered":"https:\/\/focusgn.com\/africa\/?p=32147"},"modified":"2026-08-28T10:35:41","modified_gmt":"2026-08-28T13:35:41","slug":"gig-software-to-acquire-80-of-888africa-for-e16-4m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/africa\/gig-software-to-acquire-80-of-888africa-for-e16-4m","title":{"rendered":"GiG Software to acquire 80% of 888Africa for \u20ac16.4m"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The acquisition will give GiG Software a larger presence in African B2C gaming, with 888 Africa operating across markets including Mozambique, Tanzania and Angola.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">South Africa.- Online gaming supplier <strong>GiG Software<\/strong> has agreed to acquire an 80 per cent stake in <strong>888Africa<\/strong> from <strong>Evoke subsidiary Virtual Emerging Entertainment Limited<\/strong> for \u20ac16.4m (US$19m), as the technology provider expands into African B2C gaming.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction comprises an initial payment of \u20ac6m (US$7m) and deferred consideration of \u20ac10.4m (US$12.1m). The remaining 20 per cent will stay with 888Africa\u2019s founders, who will continue to be involved in running the business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GiG expects the acquisition to close by the end of September, subject to the completion of the transaction process. It is also raising \u20ac8.5m (US$9.9m) through a directed share issue and convertible loan agreements to help finance the deal and support general corporate requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The funding is expected to comprise roughly 70 per cent equity and 30 per cent convertible loans. GiG said the structure would allow it to complete the financing more quickly than a rights issue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">888Africa operates in several African markets, including Mozambique<strong>, Tanzania and Angola<\/strong>. GiG CEO <strong>Richard Carter <\/strong>said the investment would give the company exposure to a region with significant room for online gaming growth. He noted: \u201cWe believe this transaction has multiple positive connotations for GiG\u2019s near-term and also longer-term profit and cash flow metrics.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He also pointed to Africa\u2019s demographic growth, increasing mobile connectivity and the expansion of regulated gambling markets as factors supporting the investment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Carter stated that GiG would focus on integrating 888Africa into its operations and growing recurring revenue after the takeover, rather than immediately pursuing further acquisitions or expanding into a large number of new markets. He said: \u201cThis means a more measured pace of standalone top line growth in the near term,\u201d adding that the company would focus on building a \u201cleaner, more sustainable and cash generative core business\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">GiG\u2019s return to B2C follows its separation from <strong>Gentoo Media<\/strong> in 2024. The company also plans to establish a B2B operation in Africa within the next 12 months.<\/p>\n\r\n\t\t<div id=\"see-also-container\">\r\n\t\t\t<span class=\"see-also-label\">See also:<\/span>\r\n\t\t\t<div class=\"related-article\">\r\n\t\t\t\t<img decoding=\"async\" class=\"related-article__thumbnail\" src=\"https:\/\/focusgn.com\/africa\/wp-content\/uploads\/sites\/7\/2026\/07\/photo-1649299313612-48cc3493f62e-300x200.jpg\" alt=\"\">\r\n\t\t\t\t<p class=\"related-article__text\">\r\n\t\t\t\t\t<span class=\"see-also-label-strong\">See also:<\/span> <a href=\"https:\/\/focusgn.com\/africa\/alga-names-sun-international-as-partner-for-2026-ceos-forum\">ALGA names Sun International as partner for 2026 CEOs Forum<\/a>\r\n\t\t\t\t<\/p>\r\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t","protected":false},"excerpt":{"rendered":"<p>The acquisition will give GiG Software a larger presence in African B2C gaming, with 888 Africa operating across markets including Mozambique, Tanzania and Angola.<\/p>\n","protected":false},"author":2395,"featured_media":28038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"GiG Software is acquiring an 80% stake in 888Africa for \u20ac16.4m, marking its strategic re-entry into the B2C iGaming sector and expanding its footprint across key African markets like Mozambique, Tanzania, and Angola. This M&A move, financed partly by a directed share issue and convertible loans, aims to leverage Africa's significant online gaming growth potential while establishing a future B2B presence.","focusai_entities":"GiG Software, 888Africa, Evoke, Virtual Emerging Entertainment Limited, 888 Holdings, Gentoo Media, Richard Carter","focusai_location":"Mozambique, Tanzania, Angola, South Africa, Africa","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), affiliate_publisher (0.7), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"GiG Africa B2B Strategy","query":"What specific B2B product and service verticals will GiG prioritize for its planned African B2B operation, and how will this strategy integrate with its newly acquired B2C assets?"},{"label":"African Market Regulatory Risks","query":"Given the diverse regulatory landscape across Mozambique, Tanzania, and Angola, what specific governance frameworks and compliance challenges does GiG anticipate, and how will it mitigate associated operational risks?"}],"footnotes":""},"categories":[60016,60011],"tags":[60036],"class_list":["post-32147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-africa","tag-igaming"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/32147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/users\/2395"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/comments?post=32147"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/32147\/revisions"}],"predecessor-version":[{"id":32150,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/posts\/32147\/revisions\/32150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/media\/28038"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/media?parent=32147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/categories?post=32147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/africa\/wp-json\/wp\/v2\/tags?post=32147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}