Gaming company Evolution Group has just signed an agreement which will see it acquire the business of DigiWheel. The firm considers this move to be an “excellent fit” with its product offering.
The deal with Evolution, which is an all-cash deal with a total up-front consideration of €1 million, will have Evolution paying an earn-out payment based on DigiWheel’s net income for the third year following closing.
The DigiWheel product is a 360 degees, fully rotating HD gaming wheel that also operates as a live online game. The spinning wheel is made up of an HD screen which can run any prize wheel or money wheel game, including all game show wheel content by Evolution.
“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,” John Purcell, DigiWheel CEO, said.
“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,” he added.
According to the company, the purchase will further expand its online gaming portfolio due to DigiWheel’s technology being integrated into its online live casion and game show offerings.
Evolution Gaming’s portfolio is already made up of wheel-based games including Crazy Time, Dream Catcher, and others.
“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, said.
“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,” he added.