M&A fever continues with Evolution buying Galaxy Gaming

After Cirsa announced that it has acquired a 70% stake in Apuesta Total for an undisclosed amount, a second big announcement in the gaming industry’s mergers and acquisitions landscape has taken place now with Evolution Gaming confirming a play for Galaxy Gaming. Last year, the two companies extended their licensing agreement for a period of 10 years, a precursor to today's important deal.

Evolution expands portfolio with Galaxy Gaming’s M&A

Galaxy, a developer and distributor of casino table games, has entered into an agreement with Evolution AB, a wholly owned subsidiary of Evolution Malta Holding Limited, with a value of the deal at $85m payable in cash.

In an official press statement, Galaxy Gaming has touted its strengths as a leader in developing cutting-edge games and solutions for the industry, bringing tremendous value to players and partner casinos worldwide.

Evolution’s decision to go with an all-cash option demonstrates its own deep pockets as well as the confidence it has in adding the asset to its portfolio, and it further enhances the company’s M&A strategy, which has seen a series of important acquisitions executed over the past months, notably with companies such as Livespins and Nolimit City.

Evolution AB CEO Martin Carlesund has welcomed the opportunity to see this deal through and said:

"We are thrilled to announce the acquisition of Galaxy Gaming, which represents a significant milestone in our mission to provide unparalleled gaming experiences to our customers. Galaxy Gaming’s exceptional products and technology complement our existing portfolio and strengthen our strategic position."

Carlesund has also assured that the acquisition does not seek to undermine the operational capacity and proven track record of the existing company, allowing it to operate as an independent entity under the Evolution umbrella.

Galaxy Gaming see immense value in Evolution acquisition play

Galaxy Gaming is similarly exuberant about what this new tie-up brings to the table. According to company President and CEO, Matt Reback, the two entities are going to immensely benefit from their respective offer with Galaxy Gaming narrowly specializing in land-based gaming and Evolution continuing to dominate online space.

Galaxy Gaming and Evolution have already collaborated in the past, developing hard-hitting and player-favorite products, such as 21+3 and Lucky Ladies, which have struck a chord with millions of players across numerous iGaming markets.

This partnership will now only deepen, and the operations will achieve better synergies as part of the same corporate family, Reback says confidently.

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