Evolution Acquires Game Provider Nolimit City23 Jun 2022
The Evolution-family grows to seven with Nolimit City addition
Evolution’s collection of game developers is expanding with the addition of Nolimit City, a prominent producer and developer of online slot games.
In a recent press release, Evolution AB explains they will acquire 100% of Nolimit City for an upfront consideration of €200 million. In addition to this comes earn-outs of up to €140 million, which lands the total price tag of the purchase at €340 million, which will be paid in cash.
Why is Evolution acquiring Nolimit City?
This is far from the first time Evolution has acquired another real money online casino game provider. In the last few years, they’ve acquired NetEnt, Red Tiger, Ezugi, Big Time Gaming, and DigiWheel, all prominent casino and live casino game providers.
Now with Nolimit City, Evolution is expanding their slots portfolio with unique slots known for their humor, high volatility, high max payouts, and sometimes controversial game themes.
Jens von Bahr, chairman at Evolution, comments on the acquisition, “With the addition of Nolimit City to the Evolution family, we extend our portfolio of truly innovative and cutting edge games from the top brands and game makers in the industry. We have followed Jonas, Emil, and their team for a few years and been impressed as they have established a completely new style of slot games. I am proud that yet another of the very best minds in our industry has chosen to join the Evolution network.”
“I cannot think of a better match between two companies than between Nolimit City and Evolution. We are fully aligned in terms of people, product, technology, and how to get the job done. The slot vertical is under massive change, and we can’t wait to take on the challenge of global expansion together with Evolution, helping out with navigating towards the best slot product offering in the market.” – Jonas Tegman, Co-Founder, Nolimit City
The transaction is expected to be completed during Q3 of 2022.