Gaming Innovation Group (GiG) has completed the acquisition of Titan Growth, a provider of SEO and content services.
In the announcement, it was confirmed that GiG has paid a total of €3.2 million ($3.4 million), which will be made as follows: €1 million after closing, a further €1 million after 12 months, and the remaining €1.2 million after two years.
Titan has revenue of 3.3 million euros
The Titan integration will support the operational capabilities of Gentoo Media, formerly known as GiG Media, with its content and affiliate businesses.
The change will also impact cost-saving measures. SEO and content costs are expected to reduce “significantly” for the divisions consolidated under Titan, with a predicted reduction of up to 50%.
Jonas Warren, CEO of Gentoo Media and Interim CEO of GiG Group, said: “I am pleased to announce that we have completed the acquisition of Titan.”
“This acquisition is aligned with our strategic objectives of increasing operational efficiency and strengthening our market position. The integration of Titan’s SEO and content expertise will enhance our service capabilities.”
“We look forward to realizing the benefits this will bring to our operations and stakeholders,” he added.
Last year, Titan recorded revenue of 3.3 million euros with an EBITDA (earnings before interest, taxes, depreciation and amortization) of 720 thousand euros, which means that the acquisition cost was slightly below the total of the company’s revenue.
Regarding the initial agreement, Lee Tadd, Co-CEO and Co-Founder of Titan, said: “We are excited to join forces with GiG Media. Our combined experience will allow us to deliver exceptional value to our customers and shareholders.”
“We look forward to leveraging our strengths to drive innovation and excellence in SEO and content services,” concluded Tadd.
