Sega Sammy to finalize GAN Limited acquisition on May 27

Sega Sammy Holdings announced that it will finalize the acquisition of GAN Limited (GAN), a Nasdaq-listed and Bermuda-organized company, on May 27, 2025. The acquisition, initially announced on November 8, 2023, will see GAN become a subsidiary of Sega Sammy upon completion. The total acquisition cost amounts to approximately USD95.8 million for the outstanding shares and stock compensation, with an additional JPY1.28 billion allocated for advisory fees and related expenses. The total spend will be approximately JPY15.15 billion based on an exchange rate of JPY144.85 per USD as of May 19, 2025. Sega Sammy has stated that they are still assessing the impact of the acquisition on the company's consolidated financial results. Further information on this impact will be disclosed at a later date.