SEGG Media said it will acquire Veloce through a blend of cash consideration and its common shares priced at $10 per share.
- The transaction values Veloce at approximately $61 million.
- SEGG said the deal is projected to contribute in excess of $20 million in additional annual revenue which will begin to be reported in the first quarter of 2026.
- Earlier in the week, SEGG had filed a $179 million civil lawsuit in Tarrant County District Court against four firms that it believes participated in illegal trading activity.
Sports Entertainment Gaming Global Corporation (SEGG) on Friday announced that it has agreed to acquire at least a majority interest in Veloce Media Group.
The shares in the company rallied more than 14% during the mid-day trading on Friday.
Details
The completion date for consummating the acquisition is set for Tuesday, February 17, 2026, which will result in SEGG Media acquiring a controlling interest of Veloce, enabling consolidation for accounting and reporting purposes and direct control, as per a company statement.
The acquisition of Veloce will be completed through a blend of cash consideration and SEGG Media common shares priced at $10 per share.
The transaction values Veloce at approximately $61 million and is projected to contribute in excess of $20 million in additional annual revenue which will begin to be reported in the first quarter of 2026.
“With the combined value of Veloce, SEGG, and additional pipeline acquisitions, receiving consideration in $10 SEGG stock represents significant upside for Veloce shareholders,” said Darryl Eales, Veloce Director and investor.
SEGG has been focusing on executing fundamental acquisitions designed to accelerate its growth by establishing a scalable and profitable revenue-generating platform.
$179 Million Lawsuit
Earlier in the week, SEGG had filed a $179 million civil lawsuit in Tarrant County District Court against four firms that it believes participated in illegal trading activity.
The company had sued Virtu Financial Capital Markets, Virtu Americas LLC, GTS Securities and G1 Execution Services for manipulative and unlawful securities trading practices on a massive scale designed to artificially deflate the price of SEGG Media stock.
SEGG Media alleged in its lawsuit that the defendants’ fraudulent conduct violated state and federal securities laws, interfered with lawful price determination in the free market, and undermined investor confidence at a time when the company was executing a turnaround and advancing revenue-generating initiatives.
How Did Stocktwits Users React?
Retail sentiment around SEGG trended in ‘bearish’ territory amid ‘extremely low’ message volume.
Shares in the company have fallen 93% over the past year.
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