GAN Shareholders Overwhelmingly Approve Sega Sammy Acquisition
Date: 2024-02-15 Author: Dima Zakharov Categories: EVENTS
Approval Received: A Major Step
In a significant development for the gaming industry, shareholders of GAN have voted overwhelmingly in favor of the company’s acquisition by Sega Sammy. The deal, valued at $107.6 million, marks a major move in the gaming sector.
Closing Conditions Met
The acquisition, agreed upon by Sega Sammy Creation in November, was subject to various closing conditions, including shareholder approval. At a meeting held on February 13, over 95% of shareholders voted in favor of the deal, clearing a crucial hurdle in the process.
Future Prospects: Focus on US Market
Sega Sammy's interest in GAN stems from its desire to expand its gaming business, particularly in the US market. With the legal landscape for online gaming evolving, Sega Sammy sees significant growth opportunities in the US, prompting its strategic acquisition of GAN.
Strategic Decision by GAN
The acquisition follows a strategic review initiated by GAN in the previous year, aiming to enhance shareholder value. With multiple parties expressing interest, GAN opted for the acquisition route, aligning with Sega Sammy’s vision for growth and expansion.
Sega Sammy's Expansion Trajectory
The acquisition of GAN adds to Sega Sammy's growing portfolio, which includes the recent purchase of Rovio Entertainment. This move underscores Sega Sammy's commitment to diversifying its offerings and solidifying its position in the global gaming market.
