Sega Sammy to Finalize GAN Acquisition by May 2025
Deal News | May 20, 2025 | EIN
Sega Sammy Holdings is set to finalize its acquisition of GAN Limited by May 27, 2025. The deal, valued at $1.97 per share in cash, will result in GAN becoming a wholly owned subsidiary of Sega Sammy Creation, an affiliate of the Japanese entertainment and gaming conglomerate. This transaction, originally signed on November 7, 2023, requires final gaming regulatory approvals, which are expected to be obtained without additional shareholder approvals. Upon completion, GAN is set to be delisted from the NASDAQ exchange. GAN's GameStack platform is prominent in North America's B2B gaming sector and is complemented by its B2C sports betting operations. This acquisition follows Sega Sammy's purchase of Dutch content supplier Stakelogic in July 2024 for $146 million.
Sectors
- Gaming and Entertainment
- Technology
- Finance
Geography
- Japan – Sega Sammy Holdings is a Japanese conglomerate, and the acquiring party in the transaction.
- North America – GAN Limited operates primarily in North America, providing regulated gaming solutions.
Industry
- Gaming and Entertainment – The article involves companies that are significant players in the gaming and entertainment industry, such as Sega Sammy Holdings, known for both entertainment and gaming services.
- Technology – GAN Limited provides regulated internet gaming technologies and software solutions, classifying it within the technology sector.
- Finance – The acquisition involves significant financial transactions, including cash buyout and NASDAQ delisting aspects.
Financials
- $1.97 per share – The cash price Sega Sammy will pay per GAN Limited share.
- $146 million – The amount Sega Sammy Holdings paid for the acquisition of Stakelogic in July 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sega Sammy Holdings | Acquiring Company/Buyer | Company | A Japanese entertainment and gaming conglomerate acquiring GAN Limited. |
| GAN Limited | Target Company | Company | A B2B and B2C technology provider in the gaming industry, known for its GameStack platform. |
| Sega Sammy Creation (SSC) | Affiliate | Company | An affiliate of Sega Sammy Holdings, to which GAN will merge into as a subsidiary. |