Evolution, a prominent B2B solution supplier, strives to establish itself as a major player in the casino sector. Lately, the enterprise has revealed a new strategic M&A agreement. The provider is set to obtain the Galaxy Gaming studio, a leading creator of gambling software and technologies.
Details of the Contract
Galaxy is a thriving brand projected to generate $ 29−30 million in income for the current year, with a predicted adjusted EBITDA of $ 12−13 million. As per the agreement between the two companies, Evolution will purchase the developer for $ 85 million.
The supplier already has an impressive portfolio of cutting-edge solutions and has established itself as a favoured partner for operators worldwide. For instance, earlier this month, the firm provided live dealer games to BetRivers.
Evolution’s catalogue features diverse types of software:
- live casino solutions;
- game shows;
- first person titles;
- slot machines;
- branded content.
As a pioneer in creating and distributing exceptional casino experiences and technologies, the developer will enhance Evolution’s catalogue, enabling it to offer customers cutting-edge software and services.
This strategic deal aligns with Evolution’s ambition to establish itself as a major player in the casino industry. Additionally, acquiring Galaxy will strengthen the supplier’s status as a top licensor of proprietary table titles for iGaming operators while solidifying its competitive edge in the lucrative US market.
Comments from the Representatives
Evolution’s CEO expressed excitement about acquiring such a thriving brand. According to the spokesperson, this deal is a significant achievement and aligns with the company's mission to deliver unparalleled gambling experiences to clients.
Galaxy’s exceptional products and technologies complement the existing catalogue and will bolster the firm's strategic position. It was also noted that no changes are planned for Galaxy’s management and team, with the company expected to operate as a separate and independent business unit.
Galaxy’s CEO was similarly pleased to announce the transaction, noting that it will bring together two top-notch, customer-focused teams in a way that benefits all parties.
The arrangement will combine Galaxy’s strong position in the land-based segment with Evolution’s global reach and leadership in iGaming. This acquisition allows Galaxy to maintain independence while continuing to grow and expand its performance, leveraging Evolution’s operational and financial strength.
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