Evolution acquires spinning wheel game developer DigiWheel10th September 2021 9:42 am GMT
Stockholm-listed casino supplier Evolution has entered into an agreement to acquire Cork-based DigiWheel, developer of a unique HD spinning gaming wheel.
Evolution will acquire the business for a total up-front consideration of €1m in cash, together with an earn-out payment based on DigiWheel’s net income for the third year following closing.
Evolution said that the deal will further strengthen its portfolio, with DigiWheel’s digital technology to be incorporated into its online live casino games and game shows. Evolution’s portfolio already includes successful wheel-based games including Dream Catcher and Crazy Time, among others.
The DigiWheel product is a unique, 360 degree, fully rotating HD gaming wheel that can operate as a live online game. The spinning wheel comprises an HD screen which can run any money wheel or prize wheel game, including all of Evolution’s game show wheel content.
“We are always looking out for interesting technology and have been impressed by what DigiWheel have developed,” said Evolution CEO Martin Carlesund. “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 casino.”
DigiWheel will operate as a brand within the Evolution Group, alongside Evolution, NetEnt, Red Tiger, Ezugi and Big Time Gaming.
“This announcement gives all of us at DigiWheel a great deal of satisfaction,” said DigiWheel CEO John Purcell. “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.”
Shares in Evolution AB (STO:EVO) were trading 1.33 per cent higher at SEK1,492.00 per share in Stockholm Friday morning following the announcement.