GAN has completed its merger with Sega Sammy Creation, a deal first announced in November 2023.
Through its affiliated entity, Sega Sammy acquired all of the outstanding securities of GAN for US$1.97 per share in cash, a premium of over 121 per cent to GAN’s closing stock price on November 7, 2023.
Seamus McGill, GAN’s chief executive officer, said: “Our acquisition by SSC is an exciting next step for GAN and the culmination of many years of hard work to deliver an unparalleled and unique gaming experience for our clients and players.
“GAN’s board of directors carefully evaluated a range of options to maximise shareholder value, and SSC’s recognition of the value of our assets and people leaves us confident that this transaction is in the best interest of our shareholders and provides a home for our assets to flourish. We look forward to seeing the company continuing to grow with the guidance of a global gaming and entertainment leader.”
Koichi Fukazawa, senior executive vice president and group CFO of Sega Sammy, said: “We are excited to be bringing the GAN team onboard. The team brings significant experience in the US market, along with significant technical and development resources.
“This marks a new chapter in Sega Sammy’s operations, and we look forward to serving our customers with increased product offerings and resources.”
