Evolution set to acquire Irish igaming developer DigiWheel

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

2021-09-10

Ireland

Reading time 1:32 min

DigiWheel developed the world’s first patented HD spinning gaming wheels. With a total up-front consideration of EUR 1 million ($1,18M), Evolution will also pay an earn-out payment, based on DigiWheel’s EBITDA during three years. The transaction is planned to be completed in late 2021, and the acquired firm will continue as a brand in its own right within the Evolution Group.

Evolution announced on Friday that it has entered into an agreement to acquire the business of DigiWheel, the Ireland-based manufacturer of the world’s first HD spinning gaming wheel.

The acquisition will be an all-cash deal with a total up-front consideration of €1 million (USD $1,18 million). In addition, Evolution will pay an earn-out payment, based on DigiWheel’s EBITDA for three years. Completion of the transaction is planned for late 2021 and is subject to certain closing conditions.

According to Evolution, the deal will further strengthen Evolution’s online gaming portfolio through DigiWheel’s digital technology being blended into Evolution’s online Live Casino games and game shows. The Evolution portfolio already includes wheel-based games including Dream Catcher, Crazy Time, and other games.

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

The DigiWheel product is a 360 degrees, fully rotating, HD gaming wheel that can operate as a live online game. The spinning wheel is an HD screen, that can run any money wheel or prize wheel game including all of Evolution’s game show wheel content.

Evolution Group CEO Martin Carlesund, said: “We are always looking out for interesting technology and have been impressed by what DigiWheel has 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.”

John Purcell, DigiWheel’s CEO, added: “This announcement gives all of us at DigiWheel a great deal of satisfaction. For almost 9 years our team has 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.”