Developer and game provider Evolution has completed its €340 million acquisition of Nolimit City.
Back in June, Evolution announced that it had entered into an agreement to acquire game developer Nolimit City for an upfront consideration of €200 million with earn-outs of up to €140 million, increasing the total consideration to €340 million.
All regulatory approvals have been received, and Evolution has finalised the deal, officially acquiring the game developer and expanding its portfolio of casino games after similar acquisitions of NetEnt and its subsidiary Red Tiger Gaming, and Big Time Gaming too.
The studio is well-known for releasing new casino games, including video slots with provocative themes and groundbreaking releases. Some recent launches include The Rave, Folsom Prison, Karen Maneater, Remember Gulag, and more.
At the time of the announcement, Jens von Bahr, the Chairman at Evolution, said the firm will extend its portfolio of “truly innovative and cutting edge games from the top brands and game markers” with the acquisition.
Meanwhile, Nolimit City Co-Founder Jonas Tegman said he couldn’t “think of a better match between two companies” and was eager to embark on “global expansion together with Evolution”.
In addition to acquiring Nolimit City, Evolution has remained busy boosting its player reach in the United States, including launching Craps in Pennsylvania, launching its fourth live casino studio in Connecticut, and going live in West Virginia too.