Evolution has announced that it signed an agreement to obtain the business of DigiWheel, producer of the first patented HD spinning gaming wheels in the world.
The recent acquisition will be an all-cash agreement with an up-front consideration of EUR 1m. Evolution will also cover an earn-out payment, according to DigiWheel’s EBITDA over a three-year period. The transaction will be completed by the end of 2021 and will be subject to special closing conditions.
Based on Evolution, the agreement will additionally bolster Evolution’s online gaming suite via DigiWheel’s unique and cutting-edge digital technology blended into Evolution’s Live Casino games and game shows. The Evolution portfolio already consists of successful wheel-based titles such as Dream Catcher, Crazy Time, and similar.
DigiWheel will operate as a platform in its own right as part of the Evolution Group – together with other popular providers such as Evolution, NetEnt, Red Tiger, Ezugi, and Big Time Gaming. It will add enhanced diversity to the group’s product suite for both online and land-based brands.
The DigiWheel solution is a unique and special product with 360 degrees, rotating HD gaming wheel that can work as a live online game. The spinning wheel appears as the HD screen, that can manage any money wheel or prize wheel title involving Evolution’s game shows.
Commenting on the latest milestone, CEO at Evolution Group, Martin Carlesund said:
“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. 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 an online casino.”
DigiWheel’s CEO, John Purcell, says that this announcement provides DigiWheel a great deal of satisfaction. For almost nine years of hard work, the company was focused on creating a standout solution which would be both unique and one-of-a-kind digital innovation. Thanks to the new deal, the brand’s unique products, and technology will be brought into the Evolution Group and made available to a wider global audience of clients and players.
About the Brand
Evolution is an established supplier of innovative products and advanced IT solutions for live casino market. Its code operates 24/7/365 via 300+ brands all over the world. Evolution Gaming Group AB (publ) is officially listed on Nasdaq Nordic and employs more than 7000 people. It has a license from the Malta Gaming Authority.
“Evolution To Acquire Digiwheel”, evolution.com, September 10, 2021.
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