Evolution claims that this acquisition is consistent with their goal of providing "the best" gaming content to consumers. Nolimit will provide Evolution with games such as Mental, San Quentin, and East Coast/West Coast.

Nolimit becomes the newest addition to Evolution's roster of game producers, which also includes Red Tiger, NetEnt, and Big Time Gaming.

Nolimit anticipates that its combination with Evolution will enable it to achieve its 2022 goals of €23 million in EBITDA and €30 million in revenue.

The Evolution Group's 2022 EPS is anticipated to benefit from the transaction as well.

The news is also not wholly unexpected. Following its $2.1 billion acquisition of NetEnt in 2020 and its $450 million acquisition of Big Time Gaming in 2021, Gambling Insider predicted in November of last year that Evolution will make another acquisition in 2022.

It appears like Evolution is still committed to pursuing its goal of expanding its network of game suppliers.

"With the addition of Nolimit City to the Evolution family we extend our portfolio of truly innovative and cutting edge games from the top brands and game makers in the industry," stated Jens von Bahr, Chairman of Evolution.

"For a few years now, we have been following Jonas, Emil, and their team, and we have been amazed with how they have created an entirely new genre of slot games. I'm thrilled that one more of the brightest brains in our field has decided to become a member of the Evolution network.

"I cannot think of a better match between two companies than between Nolimit City and Evolution; we are fully aligned in terms of people, product, technology, and how to get the job done," continued co-founder of Nolimit City Jonas Tegman.

"The slot vertical is undergoing tremendous change, and we are eager to work with Evolution to tackle the challenge of global expansion and steer towards the best slot product offering available."