Evolution acquires Nolimit City for 340m

Evolution has acquired Nolimit City, paying €200m ($210

Evolution has acquired Nolimit City, paying €200m ($210.4m) upfront for the online expansion slot games producer, with an additional €140m to follow paid inwards earn-outs. This culminates inward a add up payable cash in amount of €340m for all shares inwards Nolimit City.

Evolution says its acquisition aligns with its strategy to provide customers with "the best" gaming content. Games Evolution will obtain from Nolimit include Mental, San Quentin and eastern United States Coast/West Coast.

Nolimit joins a set out of other mettlesome developers inward Evolution's portfolio, including NetEnt, Red River Tiger and Big Time Gaming.

Nolimit hopes its merger with Evolution testament help it make its expected revenue of €30m and an Earnings Before Interest Taxes Depreciation and Amortization of €23m for the calendar year 2022.

The transaction is also expected to contribute positively to 2022 EPS for the Evolution Group.

This is non only unexpected news, either. In November lastly year, Gambling Insider hoped-for a new acquisition for Evolution inwards 2022, followers its purchase of NetEnt inwards 2020 for a sizeable $2.1bn, and its $450m Big Time Gaming purchase inward 2021.

It seems Evolution remains intent on keeping up its strategy of strengthening its portfolio with to a greater extent gamy providers.

Evolution Chairman, Jens von Bahr, said: "With the increase of Nolimit City to the Evolution kinfolk we reach out our portfolio of really groundbreaking and lancinating inch games from the top out brands and spunky makers in the industry.

"We feature followed Jonas, Emil and their squad for a few years and feature been impressed as they experience constituted a completely new title of slot games. i am proud that in time another of the real best minds inward our manufacture has elect to join the Evolution network.”

Jonas Tegman, Nolimit City Co-Founder, added: “I cannot imagine of a break mate 'tween deuce companies than between Nolimit City and Evolution, we are full aligned in terms of people, product, engineering and how to get under one's skin the task done.

"The expansion slot perpendicular is below monumental change, and we can’t hold back to take on the take exception of world(a) elaboration unitedly with Evolution, helping out with navigating towards the topper expansion slot mathematical product offering inward the market.”