Evolution has announced its entry into an agreement to purchase DigiWheel, the developer of the first patented HD spinning gaming wheel.
The acquisition will be an all-cash deal with a total upfront amount of €1m ($1.18m). Alongside this, Evolution will pay an earn-out payment based on DigiWheel’s EBITDA over three years.
The end date and finalisation of the transaction are set for the latter end of 2021 and will be subject to certain closing conditions.
John Purcell, DigiWheel CEO, said: “This announcement gives all of us at DigiWheel a great deal of satisfaction. For almost nine years our team have worked tirelessly to create a standout product that is a unique, one-of-a-kind digital gaming innovation.
“This deal will see our unique products and technology brought into the Evolution Group and exposed to an even wider global audience of operators and players, which is enormously exciting.”
This deal aims to strengthen Evolution’s online gaming portfolio through the innovative digital technology that DigiWheel provides. This can then be used in Evolution's online Live Casino games and shows, in addition to its wheel-based games; including Dream Catcher, Crazy Time and other games.
Evolution Group CEO Martin Carlesund commented: “We are always looking out for interesting technology and have been impressed by what DigiWheel has developed. I am delighted we have reached this agreement.
“DigiWheel is an excellent fit with Evolution’s product offering. We have had successes with wheel games and, of course, we are committed to creating the most immersive and exciting gaming experiences available in online casinos.”
DigiWheel will continue as a brand under the Evolution umbrella, alongside NetEnt, Red Tiger, Big Time Gaming and Ezugi, altogether adding diversity for both online and land-based operators.
