Acquisition Deal Reached: Livespins to be Acquired by Evolution
Evolution, the big cheese in the online casino game, has set its sights on Livespins, a B2B live streaming betting services provider. The acquisition, slated for Q2 2024, amounts to a grand EUR 5 million up-front cash payment, with an earn-out based on Livespins' performance in 2026. But why the fuss about this little fish in the ocean? Let's dive in!
This strategic move aligned perfectly with Evolution's "Product Leap" strategy, designed to shatter boundaries and bring revolutionary product innovations to the end-users. By adding Livespins to its fold, Evolution is giving its online gaming portfolio a serious boost, introducing a fresh category of live entertainment with an irresistible twist.
Livespins, the rad new gaming provider taking the live entertainment world by storm, lets operators offer players a chance to "bet behind" their beloved streamers, influencers, or brand ambassadors. This revolutionary approach creates a crackling social betting experience, transforming passive spectators into active participants as they join forces for the same spin. If their streamer hits the jackpot, they do too!
Post-acquisition, Livespins will continue to thrive under the Evolution Group umbrella, joining heavyweights such as NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, DigiWheel, and friends. This dynamic duo promises to shuffle up the group's product offering with a never-seen-before player experience.
With Livespins now part of the Evolution family, streamers can look forward to playing games from top-tier studios within Evolution's portfolio, alongside the 40+ studios already integrated. This development significantly bolsters Livespins' position in the industry, offering streamers an unparalleled gaming experience.
Martin Carlesund, CEO of Evolution, shared his enthusiasm, stating, "Livespins is a one-of-a-kind offering with impressive player engagement metrics. We're thrilled to welcome it into the Evolution fold, further cementing our reputation for recognizing groundbreaking technology."
Meanwhile, Todd Haushalter, Chief Product Officer at Evolution, explained, "Playing alongside a streamer revolutionizes the online casino experience. When the opportunity with Livespins arose, we jumped at it. With Livespins' fab tech, know-how, and Evolution's extensive game portfolio, we're set to provide Livespins with unmatched distribution power accross Twitch, YouTube, and other platforms."
Chris Scicluna, CEO of Livespins, expressed his delight, "Joining the Evolution Group is a monumental milestone for Livespins. We're flattered to have caught their attention, especially considering our nascent stage. It's a testament to our hard work and belief that Livespins will redefine the industry."
This strategic acquisition of Livespins by Evolution, a leader in online casino games, marks a significant step towards integrating technology in finance and business, with a particular focus on online gaming. With Livespins' innovative approach to live entertainment and Evolution's extensive portfolio, they aim to redefine the online gaming landscape and offer a unique player experience, merging technology and social interaction.
