GiG Software set to acquire 888Africa from Evoke

Malta-based GiG Software will buy an 80 per cent stake in 888Africa from a subsidiary of Evoke plc in a deal worth €16.4m, the company confirmed in its 2026Q2 report.

The deal will see GiG pay €6 million upfront and a further €10.4 million in deferred consideration.

The stake is being bought from Virtual Emerging Entertainment Limited, an Evoke plc subsidiary, with the remaining 20 per cent of 888Africa staying in the hands of the brand's founders, who will continue running the business.

GiG CEO Richard Carter described 888Africa as a “cash-generative, profitable, fast growing African B2C operator with a market leading position in Mozambique and operations in Angola and Tanzania.”

He said Africa’s online gambling sector “offers an unparalleled long-term growth opportunity, driven by demographic, mobile and regulatory tailwinds that few other regions can match.”

GiG Software plans to raise the money for the acquisition through a directed share issue combined with convertible loan agreements, together worth €8.5 million. The funds raised will cover the initial €6 million payment and support general corporate needs, with the split between equity and convertible debt expected to land at roughly 70/30.

The share issue will rely on the board's existing general authorisation, which permits a directed issue that departs from shareholders' preferential rights.

GiG said this route was chosen because a directed issue can be executed faster and more cheaply than a rights issue, letting it move quickly to close the acquisition.

Mr Carter said completion is expected by the end of September, after which the company's focus will shift to carefully integrating 888Africa and growing recurring revenue in its core business, rather than chasing a high volume of new deals.

He described this as a deliberate trade-off: a slower pace of standalone top-line growth in exchange for a leaner, more sustainable, cash-generative core business paired with a high-growth, high-margin African platform.