Winvia has agreed to acquire The Giveaway Guys and Win Life Competitions for up to £19.1m, according to a source report on the transaction.
The consideration comprises £15.47m in cash paid at close plus an earn-out based on EBITDA. The source describes the earn-out as the mechanism by which buyer and seller share the risk on future performance.
The transaction is structured as an asset deal. Under that structure, Winvia takes the brands and operating assets but not the liabilities, cash or trade receivables.
The source characterises the deal as part of a roll-up, following BOTB (£45.3m, 2023), Click Competitions (£16.4m, 2025) and Rev Comps (£11.8m, 2026). It states that the Rev Comps deal was conditional on migrating that business onto Winvia's own platform.
Describing what it calls the consolidator playbook, the source says the approach is to buy brands with engaged customers and working marketing channels, then move them onto the buyer's own technology. It adds that iGaming groups buying smaller casinos and affiliate sites work the same way, and that a business which would migrate cleanly onto a buyer's stack carries value in that fit.
The verified transaction facts record the purchase consideration for the transaction as £25,253,575. The source passage cited above states a figure of up to £19.1m.