Evolution Clinches Agreement to Take Over Nolimit City

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June 24th, 2022
Back Evolution Clinches Agreement to Take Over Nolimit City

Evolution Malta Holding Limited, a subsidiary owned by Evolution AB, has signed a deal to obtain the issued share capital of Nolimit City Holding Ltd. This transaction will be made with upfront consideration of EUR 200 million and earn-outs of up to EUR 140 million. This could bring the total consideration sum to up to EUR 340m, available in cash.

Nolimit City is an exceptional provider of slot games with an innovative-first approach. The company has produced its niche in the industry thanks to the creative themes and funny touch. Its games stand out from the competitors’ offers with splendid and visually engaging games, taking the user experience to the next level. Its portfolio entails super interesting content such as Mental, San Quentin, and East Coast/West Coast.

The latest acquisition is based on Evolution’s strategy of turning into one of the leading providers of online casino content, providing its users with the best gaming solutions. Thanks to the cooperation with Nolimit City, Evolution will extend its suite of top-notch brands that already involves NetEnt, Red Tiger, and Big Time Gaming.

Speaking on the latest move, Jens von Bahr, chairman, Evolution said:

“With the addition of Nolimit City to the Evolution family, we extend our portfolio of truly innovative and cutting-edge games from the top brands and game makers in the industry. We have followed Jonas, Emil, and their team for a few years and have been impressed as they have established a completely new style of slot games. I am proud that yet another of the very best minds in our industry has chosen to join the Evolution network.” 

Adding his reaction, Jonas Tegman, Co-Founder, Nolimit City notes that he can’t think of a better fit between two brands than between Nolimit and Evolution Gaming. They both have the same goals when it comes to people, products, technology, and how to finish the job. The slot selection is under big change, and they can’t wait to take on this chance for global expansion with Evolution, supporting the company in the creation of the best slots ever. 

About the Brand

Evolution AB develops, creates, markets, and licenses B2B Online Casino products to gaming brands. Since its establishment in 2006, Evolution has turned into a leading B2B brand with 600+ platforms among its consumers. The group currently has more than 13,000 people in studios around Europe and North America. The parent company is situated in Sweden and part of the Nasdaq Stockholm with the ticker EVO. 

Source:

“Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games”,news.cision.com, June 22, 2022.

“Evolution will extend its suite of top-notch brands”

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