Micro-cap SEGG Media jumps on deal for majority stake in owner of Lando Norris brand
SEGG Media shares jumped on the announcement of a controlling interest in Veloce, which recently acquired the gaming and lifestyle brand cofounded by Formula 1 driver Lando Norris / Photo: Veloce
Shares of small media platform SEGG Media, owner of Sports.com, Concerts.com, and Lottery.com, jumped 9% on Friday. The company agreed to buy a 51% stake in the UK’s Veloce Media Group, whose assets include the Quadrant apparel brand founded by Formula One driver Lando Norris and his partners. The deal will boost SEGG Media’s revenue and “a paradigm shift for SEGG Media and its shareholders,” the company said in its press release.
Details
Shares of Sports Entertainment Gaming Global Corporation (SEGG Media) jumped 9% to $1.20 per share on Friday, February 13. They added another 5% in after-hours trading the same day.
Markets were reacting to the company’s announcement that it plans to acquire 51% of the UK's Veloce Media Group. The transaction values the business at about $61 million (GBP45 million). SEGG Media will pay for its stake with a mix of cash and shares priced at $10 apiece, 8.3 times the closing price on Friday. The parties plan to complete the acquisition on Monday.
Implications of deal
The purchase of Veloce will transform SEGG Media into a diversified global sports and media group, marking a dramatic shift for both the company and its shareholders, according to the press release.
Veloce operates multiple brands across sports and esports, produces gaming content for titles including Call of Duty, and runs a digital media network focused on racing. It recently acquired Quadrant, a content and apparel brand cofounded by reigning Formula One champion Lando Norris. The brand is expected to play a key role in SEGG Media’s revenue growth, the company said.
The Veloce ecosystem also includes esports teams and partnerships with global brands like Mercedes, McLaren, Ferrari, Revolut, Visa, LEGO, and Microsoft.
SEGG Media expects its revenue to increase more than $20 million a year as a result of the transaction. For the third quarter of 2025, revenue was down 31.4% year over year at $137,700, while the operating loss widened 29% to $4.7 million.
Those results weighed on SEGG Media shares and prompted Noble Capital Markets to cut its target price by 23% to $15.50 per share. Even so, that remains almost 13 times the closing price on Friday.
