Evolution agrees to acquire developer DigiWheel for €1m

Evolution said the deal would strengthen its igaming portfolio, with DigiWheel’s digital technology to be blended into Evolution’s range of online live casino games and game shows, which includes a number of wheel-based games.

DigiWheel to continue as a brand in its own right within the Evolution Group, operating alongside Evolution, NetEnt, Red Tiger, Ezugi and Big Time Gaming.

Evolution expects the deal, which also includes an undisclosed earn-out payment based on DigiWheel’s earnings before interest, tax, depreciation and amortisation over three years, to complete later this year, subject to certain closing conditions.  

“We are always looking out for interesting technology and have been impressed by what DigiWheel have developed,” Evolution Group chief executive Martin Carlesund said. “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’s chief executive John Purcell added: “This announcement gives all of us at DigiWheel a great deal of satisfaction. 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.”

In July, Evolution revealed that operating revenue and profit more than doubled in the first half of its 2021 financial year, primarily due to the impact of its acquisition of NetEnt late last year.