Gaming machine maker Sega Sammy Agrees to Acquire GAN for $1.97 Per Share GAN Limited, a supplier of enterprise Software-as-a-Service solutions for online casino gaming, announced today that Sega Sammy Holdings Inc. has agreed to acquire the company for $1.97 per share in cash, representing a 121% premium over GAN’s closing share price on November 7.

The acquisition is subject to approval by GAN’s shareholders. Chairman and Interim CEO of GAN commented on the merger, stating: “After reviewing various opportunities to enhance shareholder value, we believe this all-cash offer from Sega Sammy, at a substantial premium, maximizes value for our investors.”

The challenging near-term operating environment, increasing competition in the U.S. market, slower-than-expected growth in regulated online gaming, and changes to major customer contracts have made substantial capital investment critical to GAN’s success. Sega Sammy has the necessary resources and GAN complements their gaming portfolio.

In late October, the State of Nevada granted GAN regulatory approval to provide sports betting technology and services. The merger would provide GAN the backing to pursue further growth in this nascent market.

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