SEGA Sammy has just wrapped up its all-cash deal to buy GAN Limited. The transaction prices GAN shares at $1.97 each—a 121% premium on its stock price before the deal was first announced. With the GAN acquisition SEGA story now complete, GAN shares are being delisted from the NASDAQ as of today.

• SEGA Sammy made the buy through its arm, SEGA Sammy Creation (SSC), snapping up all outstanding GAN stock. GAN investors are walking away with $1.97 per share in cash. That’s a big jump from GAN’s price back in November 2023.

• The deal officially ends GAN’s run as a public company. Its stock is now off the NASDAQ, and operations will move forward under the SEGA Sammy umbrella.

• GAN CEO Seamus McGill called the deal “an exciting next step” and credited the team’s years of effort building a strong product and business. He said SEGA Sammy saw the value in both the people and the tech behind GAN. The board had looked at other options but felt this was the right fit for shareholders.

• SEGA Sammy’s EVP and Group CFO, Koichi Fukazawa, welcomed GAN’s team and tech stack into the fold. He pointed to GAN’s U.S. experience and development skills as key drivers of the acquisition. SEGA Sammy is now eyeing more reach and a broader offering for its customer base.

• GAN delivers B2B software for internet gaming to land-based U.S. casinos and operates Coolbet, a B2C sportsbook with traction in Europe and Latin America. Its platform, GameSTACK™, powers regulated online casino and sports betting for clients. The software also supports virtual and simulated gaming environments.

• On the deal’s back end, GAN got financial advice from B. Riley Securities and legal support from Sheppard Mullin. SEGA Sammy brought in SMBC Nikko Securities and legal advisors Greenberg Traurig. Both sides have now closed the book on the GAN acquisition SEGA transaction.

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