Acquisition Deal Reached: Livespins to Be Taken Over by Evolution
Evolution Agrees to Acquire Livespins, Expanding Its Online Gaming Portfolio
In a strategic move, Evolution, a leading provider of online casino games, has announced its agreement to acquire Livespins, a B2B provider enabling live streaming bets. The acquisition will cost EUR 5 million upfront, with an additional earn-out based on Livespins' performance in 2026. Subject to several closing conditions, the transaction is scheduled to complete in Q2 2024.
Evolution sees this acquisition as a natural fit for its "Product Leap" strategy, which aims to push boundaries and deliver product innovation directly to end-users. Livespins will add a fresh, social entertainment category to Evolution's online gaming offerings, bolstering their product portfolio.
Following the acquisition, Livespins will continue to operate as a distinct brand within the Evolution Group, joining the likes of Evolution, NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel. This integration will introduce a new type of gaming experience to the group's product range.
Livespins offers a novel way for operators to allow players to "bet behind" their favorite streamers, influencers, or brand ambassadors. This unique feature creates a social betting experience, where multiple players can participate in the same spin, sharing the thrill of the game. If the streamer wins, the players do too.
The acquisition will further enable streamers to play games from Evolution's top-tier game studios, in addition to the 40+ studios already integrated with Livespins. This move is expected to significantly enhance the overall player experience.
Martin Carlesund, CEO of Evolution, expressed his excitement about the acquisition, highlighting Livespins' promising engagement metrics and widespread player adoption. Todd Haushalter, Evolution's Chief Product Officer, explained that this acquisition fulfills a long-standing goal of integrating streamer-player interaction into online casino games.
Chris Scicluna, CEO of Livespins, expressed his pride at joining the Evolution Group, appreciating the attention Evolution has shown to their start-up and the strong belief in its potential to revolutionize the industry.
Online gaming's boundaries will be pushed further as Evolution's acquisition of Livespins enhances its portfolio, bringing technology-driven innovation in the form of its unique social betting experience. With this acquisition, it opens new avenues in the finance sector, as investors can envision potential returns from Evolution's expansion into an emerging segment of online gaming.
