We have advised 888Africa and its founding shareholders on the acquisition of a majority stake in the business by GiG Software Plc (First North: GiG SDB; OTCQX: GIGXF), a leading B2B iGaming technology company.
The transaction will see gaming platform provider GiG Software acquire an 80% stake in 888Africa, a deal worth €16.4 million, in the company’s first move back into B2C gambling in recent years following its pivot to a B2B platform model in 2023.
We have advised 888Africa and its founding shareholders on the revised shareholding structure and associated transaction documentation, having also initially advised on the Heads of Terms.
The cross-border transaction involved parties across multiple jurisdictions, with 888Africa registered in Gibraltar and operating in Africa, while GiG Software operates out of Malta and being listed in Stockholm, Sweden.
Our team was led by Aled Walters, Corporate Partner and Head of Commercial, with support from Corporate and Commercial Partners Andrew Hoad and Gemma Davies, and Solicitors Daniel Tedd and Joshua Lee.
Aled said:
“This was another high-profile deal for Hugh James in the technology and gaming sector, again with cross-border and complex jurisdictional matters.
“The team is delighted to have worked on another transaction with 888 Africa and its leadership team and is looking forward to working with it again on future transactions”.
Christopher Coyne, CEO of 888Africa, said:
“The Hugh James team provided clear, commercial and highly responsive advice throughout this transaction.
“Their understanding of our business, the gaming sector and the cross-border issues involved made them a valued adviser as we worked through this important stage in 888Africa’s development.”
