UK-based online gaming solutions provider Evolution Gaming revealed that it has agreed to buy the business of peer Ezugi in an all-cash transaction with an initial consideration of $12 million and possible additional consideration of a maximum of $6 million.
The deal with expand Evolution’s geographic footprint and enhance growth in key markets. It is expected to add 2 to 4 percent to 2019 revenues and be slightly accretive to Evolution earnings per share during 2019.
Ezugi said that Evolution’s streaming quality and speed, user experience, game choice and all-around operational excellence will help it bring the service of its current operators to the next level.
The acquisition will enhance Evolution’s product development and operational capability in its existing markets such as Romania and the U.S. The transaction is expected to close in early 2019 and is subject to certain closing conditions.