Evolution to Acquire Big Time Gaming In One of the Largest Deals Ever

Apr 21, 2021 Anna Kiselova
The latest breaking news comes from the Swedish software provider Evolution Gaming as it is set to acquire Big Time Gaming for around £390m in 2021. The total consideration will be payable both in cash and Evolution’s shares.
Two of the unique and innovative software providers in the industry will get together to create more engaging content for loyal fans. Titles like Extra Chilli, Bonanza, and Megaways™ are just some of BTG’s top names from its portfolio of over 200 games. Nik Robinson, CEO at Big Time Gaming, announced his excitement about the acquisition, hoping for the two providers' exciting future. Similarly, Jens von Bahr, chairman at Evolution, added that BTG’s addition to the Evolution family would only strengthen its position on the market. He also expressed that the two cultures will fit perfectly together as both companies thrive towards the same goal.
Big Time Gaming’s EBITDA for 2020 was around £25 million on revenues of approximately £28.59 million. Evolution’s up-front payable will be around £190 million, while during 2022-2024, the company will pay earn-out payments based on Big Time Gaming’s EBITDA. These payments can amount to a maximum of £200 million, which will be paid out respectively for the years 2022/23 and 2023/24. As 70% of the payment will be made in cash, 30% will be paid out in shares. Big Time Gaming is expected to receive around £950,000 in shares (approximately 1,120,000 shares). This part of the transaction will be issued consequently at the completion of the first transaction. This is not the first time Evolution has acquired one of the biggest software providers in the industry as it previously acquired NetEnt — another Swedish giant.

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Anna Kiselova

Anna is the Head of Partnerships at SoftGamings, a leading iGaming developer in the world.

She is responsible for developing and executing strategic plans to maximise the software provider portfolio, solidifying the company’s reputation as a leading game solution provider.

She has a deep understanding of negotiations, business development, communication, and partner relations, and she always keeps her finger on the pulse of the latest industry innovations.

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