Evolution Gaming Group is excited to reveal that its entirely owned subsidiary, Evolution Malta Holding Ltd., has officially entered into a purchase deal to buy Livespins for an aggregate cash payment of €5 million.
Purchase agreement:
According to the agreement, Evolution will buy the whole issued share capital in the aforementioned Livespins. Also, the said deal involves an earn-out consideration, which is based on the performance by Livespins until 2026.
Relatedly, Evolution stated that this purchase is completely in line with its “Product Leap” strategy and added that Livespins will solidify its iGaming portfolio with a fresh “social category.” Relatedly, Livespins permits operators to provide clients the opportunity to wager behind their most-liked brand ambassadors, influencers and streamers.
The provider will officially integrate into Evolution’s casino lobby through an Application Programming Interface (API), meaning it will permit many players to put a wager to “bet behind“the streamer and team up for the opportunity to win jointly. Simply put, if the streamer wins, so does the player, making for the thrilling shared memory.
Furthermore, Livespins will proceed to operate independently as before, meaning it will stay its own brand within Evolution. Additionally, it will join the brands DigiWheel, Nolimit City, Big Time Gaming, Ezugi, Red Tiger, NetEnt and Evolution.
The acquisition is projected to be finalized in the first half of this ongoing year, subject to customary closing terms.
Commenting on the acquisition, Evolution’s Chief Product Officer, Todd Haushalter, said: “Playing along with a streamer is a whole new way to play online casino games. This was on our roadmap, so when the opportunity with Livespins arose, things moved quickly. Bringing together the fantastic tech, processes and know-how of the team at Livespins with Evolution’s huge game portfolio, we will provide Livespins immediately with unparalleled distribution power via our One Stop Shop (OSS) integration. Twitch, YouTube, and other platforms have proven the popularity of live streaming while playing online casino games. We think players would love to play along with them and now that will be possible, right from the Evolution lobby.”
Also commenting on the acquisition, Chris Scicluna, CEO of Livespins, commented according to the offical press release: “This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group. Although we have content from 40-plus studios already integrated, we are still in a start-up phase, so to attract the attention of Evolution is incredible. It’s also a reflection of all the hard work that our team has poured into this concept, and the unwavering belief that the Livespins product would revolutionize the industry.”
Strengthening Presence In Africa After Partnering With Kiron Interactive:
In other news, it was recently reported that in order to strengthen its presence throughout Africa, Evolution has officially entered into an alliance, with South African company Kiron Interactive.