The deal, which is to be completed by early 2019 and subject to certain closing conditions, is an all-cash deal with an initial consideration of $12 million and a possible additional consideration up to $6 million.
Ezugi is an impressive game provider in its own right, delivering B2B mobile and web live dealer solutions to online operators, land-based casinos and betting shops that operate within the US states of New Jersey and Oklahoma, Europe, Latin America and South Africa, to name a few.
Thus, this acquisition will increase Evolution’s geographic reach, amplify its operations in existing markets such as Romania and the US and accelerate growth through additional market shares.
It’s forecast to add 2-4% to Evolution’s 2019 revenues and be slightly accretive to their earnings per share during 2019.
Evolution’s CEO Martin Carlesund commented on the announcement, “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 ongoing market expansion as well as add licensees in new markets, such as South Africa.”
Evolution Chairman and founder Jens von Bahr added: “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.”
Kfir Kugler, CEO and founder of Ezugi, said: “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. 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 to the current Ezugi operators to the next level.”
About Evolution Gaming
Evolution Gaming entered the iGaming industry back in 2006, and has set a precedent for what makes a leading live casino game provider. In fact, this announcement comes three months after the launch of this provider’s ninth studio in Atlantic City, New Jersey and two recent wins for its latest game, Lightning Roulette.
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