Evolution makes a play for Livespins

Livespins, one of the biggest disruptors in the iGaming industry today, has announced that it has entered an agreement to be acquired by Evolution, an equally zealous competitor that focuses on live casino experiences and has been steadily pushing into the RNG vertical.

The potential purchase is valued at €5m in total up-front cash consideration and Evolution will further offer an amount calculated on Livespins' performance in 2026. The companies are expected to conclude the transaction in the second quarter of 2024 and will see Evolution strengthen its presence in the challenging sector.

Evolution hopes to leverage its portfolio of games, including titles developed by its in-house studios, through the new platform. Most of the group’s studios are already featured on Livespins. In the meantime, the group also intends to let Livespins run on its own and make strategic choices as it has so far, with Evolution trusting the platform to boost operational and business results as it has already done steadily.

Livespins CEO Chris Scicluna has hailed the opportunity to see his company become a part of the Evolution Group, and extolled the virtue of the deal, especially at a time when Livespins itself is only getting started and finding its way in the industry still.

"We are still in the start-up phase of our business and to attract the attention of Evolution, is incredibly rewarding," Scicluna mused. The chief executive congratulated his fellow teammates for having made sure that Livespins is a company that attracts the interest of established industry behemoths as well.

As to Evolution, the company was similarly effusive about the opportunities this acquisition created. Evolution CEO Martin Carlesund did not mince his words in praising the company and the distinct niche that Livespins has created, ensuring that slot games and streaming are fun for everyone.

He hailed Livespins' existing product and said that his company was adamant about identifying new technology and bringing it to the fold.

Evolution CPO Todd Haushalter was similarly effusive about this newly-created opportunity with Livespins now going to benefit from the company’s One Stop Shop (OSS) solution.

"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," Haushalter concluded.

Livespins in the meantime has not been sitting idly aside, with the company going on the offensive and adding a string of prominent partners to its portfolio, including names such as 1X2 Network, Evoplay, and others.

Image credit: Unsplash.com