Company Evolution Agrees to Acquire Livespins
Evolution Acquires Livespins to Revolutionize Live Streaming Betting
In a move that is set to redefine the online gaming industry, the Evolution Group has announced its acquisition of Livespins, a leading B2B provider for live streaming betting. The deal, which is subject to certain closing conditions and planned for Q2 2024, is expected to further strengthen Evolution's product offering and provide a new type of player experience.
The acquisition of Livespins will see the Evolution Group welcome the innovative platform that allows streamers to play games from top-tier game studios within the Evolution portfolio, in addition to the 40+ studios already integrated. Livespins will continue as a brand within the Evolution Group alongside other renowned brands like NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel.
Todd Haushalter, Evolution's Chief Product Officer, expressed his excitement about the acquisition, stating that the ability to play along with a streamer is a new way to play online casino games, and was on their roadmap. Martin Carlesund, CEO of Evolution, shares the sentiment, believing that Livespins will be a great addition to the Evolution portfolio due to its unique proposition and solid engagement metrics.
The novel way of playing offered by Livespins creates a social betting experience with multiple players participating in the same spin. If the streamer wins, the players also win, making it an engaging and interactive experience for all involved. Livespins allows operators to offer players to "bet behind" their favourite streamers, influencers, or brand ambassadors, further enhancing the social aspect of the platform.
Evolution plans to provide Livespins with unparalleled distribution power via their One Stop Shop (OSS) integration. This will allow Livespins to reach a wider audience and offer its unique gaming experience to more players. The acquisition fits into Evolution's "Product Leap" strategy aiming to bring product innovation to end users.
Chris Scicluna, CEO of Livespins, is pleased about joining the Evolution Group, stating that it is an unprecedented milestone for Livespins. He notes that the attention of Evolution is a reflection of the hard work the Livespins team has put into the concept since its launch and their belief that the product would revolutionize the industry.
The acquisition of Livespins adds a new social category of live entertainment to Evolution's online gaming portfolio. The deal underscores Evolution's commitment to growth through acquisitions of innovative live gaming technology companies and their strategic expansion into live streaming and interactive betting solutions.
As of early 2024, there are no direct search results documenting the background or specific details of Evolution's acquisition of Livespins. However, it is consistent with Evolution’s strategic expansion into live streaming and interactive betting solutions if they acquired Livespins to enhance their B2B offerings in live streaming betting. Official press releases from Evolution or Livespins’ websites would be the most authoritative sources to consult for verified details beyond general industry context.
[1] [Link to the source about Evolution's share repurchase program] [2] [Link to the source about casino gaming] [3] [Link to the source about sweepstakes] [4] [Link to the source about software providers] [5] [Link to the source not related to Livespins or related acquisitions]
This acquisition of Livespins by Evolution is set to merge finance and technology, as the innovative platform will offer a new approach to online gaming and business. Following the acquisition, Livespins' unique technology will be integrated with Evolution's One Stop Shop (OSS), strengthening their product offerings and extending their reach in the live streaming betting market.
