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BREAKING NEWS: Evolution closes down NetEnt's Live offer
Today, Evolution closes down NetEnt's Live offer.
As of 1 December 2020, Evolution and NetEnt operates as a group under the name Evolution. Evolution has today initiated a total reorganisation and integration of NetEnt. This reorganisation means, inter alia, that the management of Evolution assumes operational responsibility within NetEnt, but also a number of additional changes in reporting paths and structure.
The restructuring means a streamlining of the business within the development of slots games as well as a closure of NetEnt's Live offer. The streamlining measures will also have consequences within Business support units within the company.
All measures are in line with the synergy goals which were previously communicated, in connection with the announcement of the offer, with annual cost savings of EUR 30 million compared to NetEnt's and Evolution's combined cost base as of the first quarter of 2020.
Evolution will continue to offer products under four brands Evolution, Ezugi, NetEnt and RedTiger.
Therese Hillman, current CEO of NetEnt, will continue to work to support the integration of the companies in the coming months and is planned to leave the company after the first quarter of 2021.
More to follow....