Evolution has entered into an agreement to acquire Livespins
Evolution has entered into an agreement to acquire Livespins, a B2B provider enabling operators to offer players to bet-behind their favourite streamers
February 6, 2024
Evolution AB (publ)’s wholly owned subsidiary, Evolution Malta Holding Limited, (“Evolution”) has entered into an agreement to acquire the entire issued share capital of Livespins Holding Ltd (“Livespins”). The acquisition will be for a total up-front cash consideration of EUR 5 million. In addition, Evolution will pay an earn-out based on Livespins’ performance 2026. Completion of the transaction is planned for Q2 2024 and is subject to certain closing conditions.
According to Evolution, the acquisition of Livespins fits perfectly into the “Product Leap” strategy, where the ambition is to break boundaries and bring product innovation to end users. Livespins will further strengthen Evolution’s online gaming portfolio by adding a new social category of live entertainment with a novel way of playing.
Livespins will continue as a brand in its own right within the Evolution Group – alongside Evolution, NetEnt, Red Tiger, Ezugi, Big Time Gaming,No Limit City and DigiWheel– adding a new type of player experience to the group’s product offering.
Livespins is an innovative game provider within live entertainment that allows operators to offer players to “bet behind” their favourite streamers, influencers or brand ambassadors and join the thrill as opposed to passively watching a stream. This effectively creates a social betting experience with multiple players participating in the same spin. If the streamer wins, so do the players.
This acquisition firmly establishes Livespins’ place in the industry and further improves the overall player experience as streamers will now be able to play games from all the top-tier game studios within the Evolution portfolio in addition to the 40+ studios already integrated.
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.”
