Evolution is set to purchase Nolimit City
Evolution, one of the biggest iGaming companies in the world, is set to acquire Nolimit City in a €340m deal. Nolimit City will be one of many companies acquired by Evolution joining Big Time Gaming, NetEnt and Red Tiger Gaming.
Enhancing Evolution's offerings
Nolimit City will be acquired by Evolution for an upfront consideration of €200m in cash and debt-free basis with earnouts of up to €140m based on Nolimit City's Earnings before interest, taxes, depreciation and amortization (EBITDA) for the next three years.
- Remember Gulag
- Nolimit City
- Max payout:
- 30,000x stake
- Win lines:
- Action, WTF
- Release date:
- 19th Apr 2022
Evolution's offerings will be enhanced through this acquisition as Nolimit City is an award-winning slot developer that is a fan-favourite amongst slot enthusiasts with controversial titles such as Remember Gulag and Karen Maneater.
"Very best minds in our industry," says Evolution
“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,” said Evolution chairman Jens von Bahr.
He further added: “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.”
"Can't wait to take on the challenge," says Nolimit City
“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,” said Nolimit City co-founder Jonas Tegman.
He stated: “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.”
This deal is conditional upon receipt of regulatory approvals and is expected to take place during Q3 of 2022.