Shareholders of GAN will vote on the proposed merger with a subsidiary of Sega Sammy Creation on February 13.
The deal for B2B gaming technology and B2C operator GAN to be acquired by SSC was announced in November.
GAN has now scheduled a Special Meeting of Shareholders to vote on the proposal.
Seamus McGill, chairman and interim CEO of GAN, said after the move was announced: “After a thoughtful review of value creation opportunities available to us, we are pleased to have reached this agreement with SSC.
“Market share concentration in the US B2C space, a slower than expected adoption of regulated online gaming in the US, along with changes to key customer contracts make the near-term operating environment challenging without ample capital resources.
“Sega Sammy has those resources and GAN is a strategic complement to their existing gaming portfolio. We believe this all-cash offer, at a substantial premium to recent trading prices, is the value-maximising path for our shareholders.”
