Nolimit City has been purchased by Evolution for a staggering 340 million euros.
The iGaming provider Evolution Gaming has recently acquired the software developer Nolimit City for a massive 340 million euros. After all the legal and regulatory approvals, the deal went through with an initial payout of 200 million euros, with the additional 140 million euros coming from future earn-outs.
This deal is a part of the provider’s strategy of becoming the top iGaming provider in the market, as it follows a number of other high profile acquisitions, such as the purchase of NetEnt in 2020.
The transaction will likely affect Nolimit City quite positively, as they had a significant growth period over the last quarter, increasing revenue from almost 257 million euros to 344 million. The nearly 35% expansion was likely due to the announcement of the agreement.
Lastly, the chief executive of the developer, Martin Carlesund stated that the company is delighted to be welcomed to the Evolution family, and that they are looking forward to the next few months of the year.