Evolution Announces Plans to Purchase Ezugi
Premium provider of bespoke live dealer solutions – Evolution Gaming – has entered into an agreement to purchase a notable force on the live casino front – Ezugi.
Evolution to Acquire Ezugi
Evolution Gaming is aiming to strengthen its position in the live casino vertical by acquiring a company that’s been making plenty of waves in the industry of late.
As a live dealer gaming provider operating from multiple studios around the globe, Ezugi delivers B2B mobile and web live dealer solutions to online operators, land-based gaming establishments and betting shops alike.
Evolution Gaming has proposed an all-cash deal to obtain the company in an initial consideration worth $12 million, with possible future consideration of a maximum of $6 million.
Through the acquisition of Ezugi, Evolution will be able to expand its geographical footprint and accelerate growth in key markets such as the US states of New Jersey and Oklahoma, Europe, South Africa and Latin America, all considered Ezugi’s key operation markets.
“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”, Evolution Chairman and founder Jens von Bahr commented.
You Can’t Stop Evolution
Market shares are not the only benefit of the proposed Ezugi purchase and Evolution is also expecting to increase product development and operations capability in existing markets.
The Ezugi announcement comes only three months after Evolution entered the United States with its live studio in Atlantic City, New Jersey. Evolution and Ezugi are currently the only two live casino providers in the US and them joining forces in unity is expected to bring even better results.
“I am pleased about this agreement. It is a very logical next step for Evolution which will increase our market share in key existing markets, like the U.S, where Ezugi’s presence and customer base will add to our on-going market expansion as well as add licensees in new markets, such as South Africa”, Evolution CEO martin Carlesund stated.
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