Evolution Announces Plans to Acquire Livespins

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February 8th, 2024
Back Evolution Announces Plans to Acquire Livespins

Evolution, a revolutionary provider of cutting-edge live dealer games for online casinos continues to boost its network by acquiring innovative providers. The latest one to join is none other than Livespins, the forward-thinking streaming studio that allows players to bet behind their favorite streamers.

Expected to be finalized in Q2 2024, the acquisition will be for a total up-front cash consideration of EUR 5 million. On top of that, the companies agreed that an earn-out will be paid based on Livespins’ performance in 2026.

Ensuring as best coverage possible, this deal will provide Livespins with amazing distribution power via Evolution’s One Stop Shop (OSS) integration. A massive portfolio combined with top-notch technology and a high level of expertise is the combination both parties believe is expected to bring lots of success and profit.

Breaking Boundaries

Being another milestone achievement in the corporation’s“Product Leap” strategy, the acquisition of Livespins represents a notable enhancement of its portfolio. The way Evolution sees it, expanding live games with this social component and introducing consumers to the novel way of playing reflect the company’s continuous desire to innovate.

Commenting on the acquisition, Martin Carlesund, CEO of Evolution said:

“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.”

Game streamers gathered at Livespins team will also benefit a lot from this agreement, as they will have a much wider assortment of games at their disposal to choose from. NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel are just some of the many among the 40+ studios included in the ever-expanding network.

Calling this cooperation an “unprecedented milestone” for the company, Chris Scicluna, CEO of Livespins said:

“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.”

Year Full of Strategic Agreements

The previous year was quite an active one, in terms of agreements, as Livespins made a notable expansion of its roster of partners.

To start with January 2022, the studio joined forces with Yolo Group, going live on their three B2C platforms. A couple of days after that, Gamzix was added to its lobby, while the end of the said month brought a deal with M88.

The second half of March saw the addition of Wazdan’s attractive game catalog, while April was marked with strategic cooperation with REEVO. The end of May saw the company joining forces with Booming Games, while July brought the integration of 4ThePlayer to their captivating suite of games.

August was by far the most prolific in terms of alignments, welcoming big names such as SlotMatrix, Caleta Gaming, Comtrade, Soft2Bet, and Golden Rock. Other agreements inked between September and December include Gamingtec, Slotegrator, Relax Gaming, Jelly, GiG, Evoplay, Onlyplay, and 1x2 Network.

Talking about expansion, the team itself grew as well, by welcoming Marko Erakovic as the new Sales Director. The appointment of a former Bragg and Oryx commercial lead with two decades of experience is expected to continue solidifying the company’s position.

Source:

“Evolution Has Entered into an Agreement to Acquire Livespins”, livespins.com, February 6, 2024.

“a total up-front cash consideration of EUR 5 million”

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