Evolution reaches agreement to acquire Livespins for €5 million

Evolution Malta Holding, a subsidiary of Evolution, has signed an agreement to acquire Livespins, a B2B social streaming game provider for a total up-front cash consideration of €5 million.

Additionally, Evolution will pay and earn-out based on Livespins’ performance in 2026, with the transaction set to be fully completed for the first half of 2024 and is subject to certain closing conditions.

Founded in 2006, Evolution is a leader in product innovation and advanced IT solutions for video-streamed live casino. In 2023, the company recorded a significant surge in revenue, prompting net profit to rise to €1.07 billion, 27 per cent more than the previous year.

Livespins is a HappyHour.io portfolio company that seeks to deliver a new way to play casino games, “where streaming, playing together, and community are all combined in one product.”

Despite the move, Livespins will continue as a brand in its own right, but will now form part of Evolution Group. All other existing operator agreements remain in place.

Commenting on the transaction, Evolution chief product officer Todd Haushalter said: “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.”

He stated that by combining the technology, processes, and know-how of the team at Livespins with Evolution’s game portfolio, the latter 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 livestreaming 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,” he continued.

Livespins CEO Chris Scicluna described this move as an “unprecedented milestone” for Livespins, and the team “couldn’t be happier” to be joining Evolution Group.

“Although we have content from 40-plus studios already integrated, we are still in a start-up phase, so to attract the attention of Evolution is incredible. It’s also a reflection of all the hard work that our team has poured into this concept, and the unwavering belief that the Livespins product would revolutionise the industry,” he added.