Sega Sammy Finalizes Acquisition of GAN Limited in $107 Million Deal
Sega Sammy Holdings has completed its acquisition of GAN Limited, securing full ownership of the U.S.-focused gaming technology firm in a transaction valued at $1.97 per share.
A Strategic Shift for GAN
GAN Limited, previously listed on NASDAQ, has officially become a wholly owned subsidiary of Sega Sammy Holdings following a merger with its affiliated entity, Sega Sammy Creation. The $1.97-per-share acquisition price represents a premium of more than 121% compared to GAN’s closing stock price on November 7, 2023. The company’s shares will no longer be publicly traded as of the close of business today.
The acquisition concludes a chapter for GAN as a publicly traded firm and sets the stage for its integration into one of Japan’s most prominent gaming and entertainment conglomerates.
Executive Endorsements from Both Sides
“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 maximize 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”, said Seamus McGill, CEO of GAN.
“We are excited to be bringing the GAN team onboard. The team brings significant experience in the U.S. 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”, added Koichi Fukazawa, Senior Executive Vice President and Group CFO of SEGA SAMMY.
While Sega Sammy has a strong footprint in Japanese gaming and entertainment, the acquisition of GAN gives the group deeper access to the regulated U.S. market for online sports betting and real money gaming—a key growth area for global operators. GAN’s dual profile as both a B2B technology provider and a B2C sportsbook operator positions it as a valuable asset for Sega Sammy’s international expansion strategy.