Evolution has announced it has entered into an agreement to acquire the entire issued share capital of Big Time Gaming.
The acquisition is payable in cash and Evolution shares, and all regulatory approvals have now been received. Evolution’s board of directors has resolved to issue 1,105,032 shares.
“The right to subscribe for the new shares accrues, with deviation from the shareholders’ preferential rights, to the sellers of Big Time who have subscribed for the shares against set-off of their receivable of EUR 140,030,000 against the newly issued shares,” a statement from Evolution read.
“The subscription price in the issue amounts to EUR 126,72 per share, which – in accordance with the agreement in respect of the Transaction – is equivalent to the volume-weighted average price of the Evolution share on Nasdaq Stockholm during the period 23rd March – 7th April 2021.”
Evolution first announced the agreement in April 2021, with chairman Jens von Bahr saying: “With the addition of Big Time Gaming to our portfolio of slot brands we strengthen our strategic position as the leading provider of digital casino games in the world.
“Big Time’s focus on innovation and creating unique playing experiences is a great fit with our culture and mindset at Evolution. We look forward to continuing our journey together.”
