Japanese gaming giant Sega Sammy Holdings has reached an agreement to acquire online solutions provider GAN (GameAccount Network) for around $107.6m.
The acquisition will enable Sega Sammy to expand its gaming interests and further broaden its product portfolio beyond its core land-based operations and equipment supply business.
Sega Sammy has confirmed an increased focus on the US iGaming market, as legislation relaxes in more and more states. The acquisition of GAN will strengthen the opportunity to capitalise on this.
Completion of the deal is subject to approvals, and these include a GAN shareholder vote, scheduled to take place no later than March 2024.
A statement from Sega Sammy says: “We decided to proceed with this acquisition because it aligns with our growth strategy.
“We believe it will greatly contribute to the expansion of our gaming business and gaming portfolio.
“The complementary nature of GAN’s market leading online gaming technologies and solutions and the customer base and content development capabilities of SSC, which provides gaming equipment and content to land-based casino operators in North America, is expected to result in increased distribution of SSC’s compelling casino content and expanded customer reach.”