Evolution AB (publ)’s subsidiary, Evolution Malta Holding Limited, has struck a deal to acquire Livespins Holding Ltd, solidifying its position as a major player in the online gaming industry.
The acquisition, valued at EUR 5 million, underscores Evolution’s commitment to innovation and product enhancement. The deal aligns with Evolution’s “Product Leap” strategy, aiming to redefine the gaming experience for users. Livespins’ unique approach to live entertainment will complement Evolution’s existing portfolio, enriching the player experience with social betting features.
Expanding the Gaming Portfolio
Livespins will operate as a distinct brand within the Evolution Group, alongside other prominent entities like NetEnt and Red Tiger. This integration introduces a new dimension of player engagement, allowing users to bet alongside their favorite streamers and influencers. The acquisition not only strengthens Livespins’ market presence but also enhances the overall gaming experience by integrating top-tier game studios from Evolution’s extensive portfolio.
Martin Carlesund, CEO of Evolution, lauded Livespins as a groundbreaking proposition with strong engagement metrics. He expressed confidence in Livespins’ potential to enrich the Evolution portfolio, citing the company’s track record of identifying cutting-edge technologies.
Chief Product Officer of Evolution Todd Haushalter emphasized how playing with streamers can change lives. He highlighted how Evolution’s wide range of games and Livespins’ technologies work together seamlessly to provide gamers distribution power never before seen. Haushalter emphasized the rising trend of live streaming in the game industry, imagining a vibrant setting where players are able to take part in the action.
The acquisition was praised by Livespins CEO Chris Scicluna as a major turning point for the business. He reflected on the team’s commitment to transforming the game industry and expressed thanks to Evolution for seeing Livespins’ potential.
Evolution is making a calculated move by acquiring Livespins in order to increase its market share in the online gaming industry and provide gamers with cutting-edge, immersive gaming experiences.
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