Evolution Gaming acquires NetEnt
The Swedish casino giant Evolution Gaming takes over the software giant NetEnt and aims to become the world market leader in online gaming.
Quote:
Posted by Evolution
As of December 1st, 2020, Evolution and NetEnt operate as a group under the Evolution name. Evolution today initiated a complete reorganization and integration of NetEnt. This reorganization means, among other things, that Evolution's management takes on operational responsibility within NetEnt, but also a number of additional changes in reporting paths and structure.
The restructuring means a streamlining of the business in the development of slots games as well as the closure of NetEnt's live offering. The streamlining measures will also have consequences for the business support units within the company. All measures are in line with the synergy targets previously communicated in connection with the announcement of the offer, with annual cost savings of EUR 30 million compared to the combined cost base of NetEnt and Evolution as of Q2020 XNUMX.
Evolution will continue to offer products under the four brands Evolution, Ezugi, NetEnt and RedTiger.
Therese Hillman, NetEnt's current CEO, will continue to work to support the integration of the companies over the coming months and is expected to leave the company after Q2021 XNUMX.
The British Competition and Markets Authority (CMA) has approved the merger between Swedish gaming groups Evolution Gaming and NetEnt.
The competition authority in Malta (MCCAA) also approved the takeover.
