Evolution, a leading B2B casino solution provider, has announced a major acquisition deal just days after posting a strong 2023 financial report. The company will acquire Livespins, a socially charged product, in a deal worth approximately $5.4 million.

Livespins is an innovative product that allows players to bet behind their favorite streamers, content creators, and brand ambassadors. It emphasizes the social aspect of betting by enabling players to communicate via chat, share emojis and gifs, and select their own number of bets and bet size while seeing what others are betting.

As part of the deal, Evolution will acquire the entire issued share capital of Livespins Holding, making an initial cash payment of $5.4 million and an additional earn-out based on Livespins’ performance in 2026.

The acquisition of Livespins aligns with Evolution’s Product Leap strategy, which aims to bring innovative products to players. Livespins will join Evolution’s portfolio alongside NetEnt, Red Tiger, Ezugi, and other leading companies, strengthening the group’s product offering.

The transaction is expected to close in Q2 2024 and is subject to certain closing conditions.

Evolution’s CEO, Martin Carlesund, expressed excitement about the deal, praising Livespins for its engagement and solid metrics. He believes that Livespins will be a great addition to the Evolution portfolio.

Chief Product Officer Todd Haushalter also commented on the acquisition, noting that Livespins brings a new way to enjoy online gaming and will benefit from Evolution’s distribution power.

Livespins’ CEO, Chris Scicluna, described the deal as an “unprecedented milestone” for the company and expressed delight in attracting the attention of such a big company.

Previously, Livespins had signed distribution deals with other leading companies, such as Relax Gaming and Slotegrator.

In conclusion, Evolution’s acquisition of Livespins reflects the company’s commitment to innovation and expansion in the gaming industry, and it’s a significant milestone for both companies involved.

By admin