Evolution Gaming has proudly announced that their acquisition of a fellow live dealer provider Ezugi has been finalized. This strategic deal will cement Evolution’s dominance in the US market and accelerate further growth.
Back in November the Stockholm-listed leading provider of live casino solutions Evolution has taken a step forward in its expansion strategy to dominate the US market and offered to buy its current competitor Ezugi for $12 million, followed by possible additional payment of $6 million.
The acquisition, that has been finalized these days, will increase Evolutions geographical footprint and accelerate growth. Revenues are expected to be boosted by 4% in 2019 and be slightly accretive to Evolution earnings per share during this year.
Jens von Bahr, Evolution chairman and founder, outlined benefits set to be felt by the firm as a result of the new acquisition.
“This strategic deal will see Evolution increase its geographic footprint and accelerate growth.It will enable us to fast-track the accessibility to Evolution’s top-ranking software, as well as to support continued industry leadership by adding well-established development teams and operational resources.”
Founded in 2012 Ezugi quickly established itself as a top tier live casino provider and operates in various markets in Europe, Latin America, South Africa and the US states of New Jersey and Oklahoma.
Being the only other provider besides Evolution, operating in the US, the acquisition was a logical next step for Evolution. Ezugi’s customer base will add to their ongoing market expansion and also add licensees in brand new markets.
Ezugi will continue to operate as a sub-brand and serve its existing customers and continue its ongoing projects like Ezugi 3.0, Romania Flagship Studio and licensing for Spain and Italy. The acquisition will provide both companies with the best knowledge and technology that will grow their footprint further.
“Announcing this agreement gives me great satisfaction. Ezugi has come a long way since it was founded in 2012, and becoming part of Evolution marks the right next step for us” Kfir Kugler, CEO and founder of Ezugi, is satisfied with the deal.
“Evolution’s superior offering in areas such as streaming quality and speed, user experience, game choice and all-round operational excellence will help bring the service of the current Ezugi operators to the next level.”
Evolution purchased this deal in a very busy period for the company. They opened a first US studio in New Jersey just three months ago and were the first to enter US market. Evolution released positive numbers for the first three quarters of 2018, with the revenue up by almost 40% at €127m.