Evolution signs deal to acquire Livespins’ share capital for €5m
Evolution’s wholly owned subsidiary, Evolution Malta Holding Limited, as entered an agreement with Livespins to acquire all the company’s issued share capital for a total up-front cash consideration of €5m.
Both companies anticipate closing the deal during this year’s second quarter, pending certain closing conditions.
Under the terms of the agreement, Livespin will operate under its established brand within the Evolution Group. The company will continue alongside the Evolution, NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City and the DigiWheel brand names.
Evolution CEO Martin Carlesund commented: “Livespins is a unique proposition that has shown solid engagement metrics and adoption by players and one we believe will be a great addition to the Evolution portfolio.
“Over the years, we have garnered a reputation for identifying new and interesting technology which is why I’m thrilled that we have reached an agreement with Livespins.”
Upon the deal’s completion, Evolution streamers will have access to all game studios within the company’s portfolio, along with more than 40 studios that have been integrated into the Evolution family.
Chief Product Officer Todd Haushalter commented: “Playing along with a streamer is a whole new way to play online casino games. This was on our roadmap, so when the opportunity with Livespins arose, things moved quickly.
“Bringing together the fantastic tech, processes and know-how of the team at Livespins with Evolution’s huge game portfolio, we will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration. Twitch, YouTube, and other platforms have proven the popularity of live streaming while playing online casino games. We think players would love to play along with them and now that will be possible now, right from the Evolution lobby.”
Livespins CEO Chris Scicluna described the deal as a win for everyone involved.
He said: “This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group. We are still in the start-up phase of our business and to attract the attention of Evolution is incredibly rewarding.
“It also is a reflection of all the hard work that our team has poured into this concept since we launched and the unwavering belief that this product would revolutionise the industry.”
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