Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games
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Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games. Evolution's wholly owned subsidiary, Evolution Malta Holding Limited, will acquire the entire issued share capital of Noliaim City Holding Ltd for an upfront consideration of EUR 200 million. With earn-outs of up to EUR 140 million, the total consideration can amount to up of € 340 million payable in cash.
Evolution has entered into an agreement to acquire Nolimit City. Noliaim is a world-leading producer of online slots games. Its games include Mental, San Quentin and East Coast/West Coast. The acquisition is in line with Evolution's strategy of being the world's number one provider of casino games and extends its portfolio of world leading slot brands. The Transaction will contribute positively to 2022 EPS for the Evolution Group. Jonas Tegman, co-founder of Noliim, is excited about the expansion of the business.
Evolution will pay Nolimit City EUR 200 million up-front. Evolution may also pay earn-out payments based on NOLimitt City's EBITDA for the years 2022, 2023 and 2024. The earn out payments will amount to a maximum of EUR 140 million.
Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games. The completion of the Transaction is conditional upon receipt of regulatory approvals and is expected during Q3 2022.
Evolution has engaged Gernandt & Danielsson, Wiggin, Deloitte and EY in connection with the Transaction. Nolimit City has hired Advokatfirman Delphi as legal advisor in relation to the transaction.
Evolution has entered into an agreement to acquire Nolimit City, a leading producer and developer of online slot games. CEO Martin Carlesund will present the acquisition on Wednesday, 22 June 2022 at 11:30 p.m. CET via a telephone conference.
