TLDR GiG Software has agreed to acquire an 80% stake in 888Africa for around €16.4 million. The deal is with Evoke subsidiary VEEL, which will keep the remaining 20% stake. GiG plans to raise €8.5 million through a mix of share issuance and convertible loans. The move marks GiG’s return to the consumer betting market after years focused on B2B services. GiG expects the combined group to generate €44 to 48 million in revenue during 2026.
GiG Software has agreed to buy an 80% stake in 888Africa. The deal was announced on August 26, 2026, and is valued at about €16.4 million.
The seller is VEEL, a subsidiary of Evoke. VEEL will hold onto the remaining 20% stake and stay involved in managing the business.
The founders of 888Africa will also keep a share of the company. They will continue running daily operations after the deal closes.
888Africa is described as a profitable business with cash flow already in place. It has grown quickly across several African markets since launching.
To pay for the deal, GiG plans to raise €8.5 million. The funding will come from a mix of equity and convertible loans.
The company plans to split the fundraising roughly 70/30. Most will come from a directed share issue, with the rest from loan agreements.
Proceeds will go toward the first payment for 888Africa. The rest will support general costs at GiG.
The board said the price for new shares will be set through an accelerated process. This is meant to reflect current market conditions.
GiG Returns to B2C Market
This deal marks a shift back to consumer betting for GiG. The company had focused only on B2B services after spinning off its affiliate business in late 2024.
That business became Gentoo Media. Since the split,
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