Evolution Continues Expansion with DigiWheel Acquisition
Evolution Gaming, the leading supplier of live dealer games, has entered an agreement to acquire spinning gaming wheels developer DigiWheel for €1 million.
According to Evolution, the acquisition will strengthen its iGaming portfolio, as DigiWheel’s digital technology will be integrated into Evolution’s range of online live casino games and gameshows, many of which make use of fortune wheels.
DigiWheel will continue operating as a brand in its own right as part of the Evolution Group together with Evolution, NetEnt, Red Tiger, Ezugi, and Big Time Gaming.
The deal also includes an undisclosed earn-out payment based upon DigiWheel’s earnings before interest, tax, depreciation, and amortization over three years. Evolution expects the deal to be completed later this year, subject to specific closing conditions.
We are always looking out for interesting technology and have been impressed by what DigiWheel have developed. 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 chief executive, said that the acquisition gives everyone at the company “a great deal of satisfaction”. He explained that they have worked for close to nine years to develop a “standout product that is a unique, one-of-a-kind digital gaming innovation.” He added, “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.”
It has been a successful period for Evolution. In July, the company announced that its operating revenue and profit more than doubled in the first half of the financial year, mainly due to the acquisition of NetEnt late last year.
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