Evolution AB (publ) through its subsidiary, Evolution Malta Holding Limited, has announced a definitive agreement for the acquisition of the entire issued share capital of Livespins Holding Ltd. The transaction, valued at an upfront cash consideration of €5 million (£4.3 million/US$5.4 million), also includes an earn-out contingent on Livespins’ performance through 2026. The completion of this strategic acquisition is expected in the second quarter of 2024, pending the satisfaction of specific closing conditions.
This acquisition aligns with Evolution’s strategic “Product Leap” initiative, aimed at transcending traditional boundaries and driving innovation directly to consumers. By integrating Livespins into its portfolio, Evolution introduces a novel social dimension to live entertainment in online gaming, enhancing its already robust offering. Livespins, recognized for its pioneering approach to live entertainment, enables a social betting experience where players can “bet behind” preferred streamers, influencers, or brand ambassadors, creating a communal and interactive gaming environment.
Livespins will retain its brand identity within the Evolution Group, joining other renowned brands such as NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City, and DigiWheel. This integration not only enriches the Evolution Group’s diverse product suite but also introduces a unique player experience to its ecosystem.
The significance of this acquisition extends beyond expanding Evolution’s portfolio. It reinforces Livespins’ position within the iGaming industry and enhances the player experience by enabling streamers to access a broader range of top-tier game studios within the Evolution network, in addition to the over 40 studios already partnered with Livespins.
Martin Carlesund, CEO of Evolution said, “Livespins is a unique proposition that has shown solid engagement metrics and adoption by players and one we believe will be a great addition to the Evolution portfolio. “Over the years, we have garnered a reputation for identifying new and interesting technology which is why I’m thrilled that we have reached an agreement with Livespins.”
Todd Haushalter, Evolution’s Chief Product Officer, commented: “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 now, right from the Evolution lobby.”
Chris Scicluna, CEO of Livespins said, “This is an unprecedented milestone for Livespins and we couldn’t be happier to be joining the Evolution Group. “We are still in the start-up phase of our business and to attract the attention of Evolution, is incredibly rewarding. It also is a reflection of all the hard work that our team has poured into this concept since we launched and the unwavering belief that this product would revolutionise the industry.”
