Evolution, the world’s biggest supplier of live dealer games for online casinos, has announced that it has reached an agreement to purchase Livespins, the innovative live streaming casino gaming platform, for an initial 5 million euros.
The deal will be done through Evolution Malta Holding, a subsidiary of Evolution, and it will see the buyer pay 5 million euros upfront for the entire issued share capital in Livespins. Evolution has also agreed to a further earn-out payment based on the financial performance of Livespins until 2026.
Evolution explained that the acquisition of Livespins fits into the company’s “Product Leap” strategy and added in a press release that the acquired brand will further strengthen the online gaming portfolio by adding a social dimension to it. Livespins has become known on the market because it allows online casino operators to offer their clients the opportunity to bet alongside their favorite streamers or influencers on the most popular casino games at the moment.
After the acquisition, Livespins will continue to operate as a distinct brand within the Evolution Group alongside the already known powerful brands: Evolution, NetEnt, Red Tiger, Ezugi, Big Time Gaming,No Limit City and DigiWheel. The purchase is expected to be fully completed in the second quarter of 2024.