GiG Software Completes Acquisition of 80% Stake in 888Africa, Cash Position Raised to €8.0M
The main highlight of GiG Software's quarterly publication released on October 28, 2026, is the completion on September 30, 2026, of the acquisition of an 80% stake in 888AFRICA, an online gaming operator based in Africa.
According to Chief Executive Officer Richard Carter, the group's cash and cash equivalents increased to €8.0M following the transaction.
The transaction transforms the group's business model. GiG positions itself as a technology provider for online gaming operators (B2B activity). It now integrates an operator that serves players directly (B2C), described by the company as profitable and cash-generative.
80% Stake in 888AFRICA Finalized on September 30
Richard Carter describes the transaction as "transformational" and presents it as the acquisition of an 80% stake in a rapidly growing African operator. The completion took place on September 30, 2026, the final day of the third quarter covered by the publication.
888AFRICA holds licenses in Angola and Tanzania, and GiG presents it as the leading player in the Mozambique market. The company is described as profitable, with an already established player base.
The group justifies the transaction through three benefits: immediate scale expansion, geographic diversification, and access to regulated African markets. This access is achieved through an operator already in operation and holding its licenses, rather than through a greenfield establishment.
Cash Position Raised to €8.0M
On the financial side, the Chief Executive Officer draws a direct link between the acquisition and the balance sheet. According to him, the transaction has strengthened the group's financial position, with cash and cash equivalents reaching €8.0M.
The mechanism highlighted by the company is a combination of two different business activities. On one side, GiG provides technologies and services to third-party operators. On the other, 888AFRICA operates its own gaming offering, presented as cash-generative.
The group's historical supplier activity continued during the quarter. The group signed a new partner and extended an existing commercial agreement. It also completed three brand launches in the province of Alberta, on behalf of existing partner clients.
Management Focused on 888AFRICA Integration
Going forward, Richard Carter indicates that the group remains focused on capitalizing on the opportunities created by 888AFRICA. He intends to pursue growth simultaneously through its partnerships and expansion into new markets.
The Chief Executive Officer and Chief Financial Officer, Phil Richards, have scheduled a presentation followed by a question-and-answer session on October 28, 2026 at 10:00 a.m. (Paris time) on the Investor Meet Company platform, open to current and prospective shareholders.
GiG is listed in Stockholm on the Nasdaq First North Premier Growth Market, as well as in the United States on OTCQX. The structuring elements of the publication are the 80% stake acquisition in 888AFRICA, finalized on September 30, 2026, and cash of €8.0M according to management.
