Evolution goes through with proposed acquisition of Ezugi
Leading provider of Live Casino solutions has announced on 9 January that they have finalized the previously communicated acquisition of a live dealer provider Ezugi.
Ezugi Acquisition Wrapped Up
Evolution pursued the acquisition of Ezugi in order to strengthen its position in the existing markets, including Romania and the US, and add both further studio capacity and resources in product development.
Ezugi delivers B2B mobile and live dealer solutions to online operators, land-based casinos and betting shops in Europe, Latin America, South Africa and the US states of New Jersey and Oklahoma, so the acquisition was a logical step for Evolution.
Ezugi was also the only live casino provider besides Evolution that operated in the US market in 2018. Evolution announced plans for this acquisition just three months after they launched in US gambling market with its studio in Atlantic City, New Jersey, which is Evolution’s ninth studio in the world.
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.”
Tactical Step Forward
The deal represents a very tactical step in Evolution’s expansion strategy.
It will increase Evolution’s geographical footprint and accelerate growth. It is expected that revenues will rise between 2% and 4% in 2019, as well as being slightly accretive to Evolution earnings per share. Ezugi’s presence and customer base will not only add to their market expansion but add licenses in the new markets.
“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, stated.
“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.”