Evolution Group has entered into an agreement that will see the firm acquire the business of DigiWheel, which the firm says will be an “excellent fit” with its product offering.
The transaction is an all cash deal with a total up-front consideration of €1m, with Evolution also set to pay an earn-out payment based on DigiWheel’s net income for the third year following closing.
The DigiWheel product is a 360 degrees, fully rotating HD gaming wheel that can operate as a live online game. The spinning wheel comprises a HD screen which can run any money wheel or prize wheel game, including all of Evolution’s game show wheel content.
John Purcell, DigiWheel’s CEO, commented: “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.
“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.”
Evolution says that the purchase will further strengthen its online gaming portfolio as a result of DigiWheel’s technology being blended into its online live casino and game shows offerings.
The Evolution portfolio already includes wheel-based games such as Dream Catcher, Crazy Time and other games.
“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,” Martin Carlesund, Evolution Group CEO, added.
“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 casino.”
DigiWheel will continue as a brand in its own right within the Evolution Group, alongside Evolution, NetEnt, Red Tiger, Ezugi and Big Time Gaming, with the group looking to add even greater diversity to its product offering for both online and land-based operators.