Evolution to buy DigiWheel, developers of the world’s first patented HD spinning gaming wheels.
Evolution has announced that it had entered into an agreement to acquire the business of DigiWheel.
What DigiWheel Brings
The acquisition will be an all-cash deal with a total up-front consideration of EUR 1 million. In addition, Evolution will pay an earn-out payment, based on DigiWheel’s EBITDA during three years. The transaction’s completion is planned for late 2021 and is subject to certain closing conditions.
According to Evolution, the deal will further strengthen Evolution’s online gaming portfolio. They will blend DigiWheel’s unique and innovative digital technology into Evolution’s online Live Casino games and game shows.
DigiWheel will continue as a brand in its own right within the Evolution Group. They join Evolution, NetEnt, Red Tiger, Ezugi, and Big Time Gaming. And this means adding even greater diversity to the group’s product offering for both online and land-based operators.
The DigiWheel product itself is a truly unique, 360 degrees, fully rotating HD gaming wheel. Also, it can operate as a live online game with the spinning wheel as an HD screen, that can run any money wheel or prize wheel game.
The Evolution portfolio already includes successful wheel-based games such as Dream Catcher, Crazy Time, and other games.
What They Said
Evolution Group CEO Martin Carlesund commented on the announcement.
“We are always looking out for interesting technology and have been impressed by what DigiWheel have developed. I am delighted we have reached this agreement.
Evolution has had successes with wheel games. So, they want to continue creating “the most immersive and exciting gaming experiences available in online casino.”
John Purcell, DigiWheel’s CEO, added: “This announcement gives all of us at DigiWheel a great deal of satisfaction. For almost 9 years our team have worked tirelessly to create a standout product that is a unique, one-of-a-kind digital gaming innovation.
Furthermore, he believes this deal will expose their products to an even wider global audience of operators and players, “which is enormously exciting.”