Evolution Acquires DigiWheel the Developer of Spinning Wheel Game. Evolution will acquire DigiWheel for a 1 million Euros up-front.(Photo by Cytonn Photography on Unsplash)
Evolution, a top casino supplier, has yet again announced another addition to it brand. The live casino grapevine is shaking with anticipation after Evolution acquires DigiWheel in a deal already confirmed.
It comes as no surprise that Evolution is not done yet with its quest for iGaming domination as the brand has already been involved in several takeover deals over the past 12 to 18 months.
This latest acquisition comes after the Stockholm-listed firm signed an agreement with DigiWheel for a complete takeover of the Cork-based firm that specializes in the development of an exclusive HD spinning gaming wheel.
According to the details of the deal, Evolution will acquire DigiWheel for a 1 million Euros up-front consideration cash fee and an earn-out payment, which will be determined by the net income DigiWheel will get for the third year after it closes.
This new deal is set to strengthen Evolution’s portfolio further as it will incorporate DigiWheel’s digital technology into its game shows and live casino games. Already, Evolution’s portfolio includes a wide range of successful wheel-based games such as Crazy Time, Dream Catcher, and so on. Evolution has nothing to lose, but a lot to gain with this new acquisition, as the product from DigiWheel is an exclusive, fully rotating 3600 gaming wheel that can also be operated as a live online game.
Evolution CEO Delighted With What DigiWheel’s Innovative Tech Can Add to the Brand
Speaking on the new acquisition, Martin Carlesund, Evolution CEO;
Expressed the firm’s delight with the newly signed agreement, especially as DigiWheel’s products have always been impressive. He added that Evolution is constantly looking for new exciting and innovative technology, and DigiWheel is a perfect fit for that as it also matches Evolution’s product offering.
Martin further explained that Evolution had recorded remarkable successes with wheel games and it is still committed to providing the most exciting and immersive gaming experiences to its players. Under the new acquisition, DigiWheel will operate alongside NetEnt, Ezugi, Big Time Gaming (BTG), Evolution, and Ezugi as a brand in the Evolution Group.
CEO of DigiWheel Equally as Enthusiastic – Who Wouldn’t Be After Joining One of iGaming Most Successful Brands?
Also, commenting on the recently announced Evolution acquisition of DigiWheel, John Purcell, DigiWheel CEO, explained that;
The announcement of the deal came with an incredible feeling of satisfaction to everyone at DigiWheel. He continued further, saying that DigiWheel’s team has continued to work around the clock for about nine years to develop a unique product that is outstanding and far above others in the digital gaming innovation line.
John also pointed out that DigiWheel’s unique technology and product will be incorporated into the Evolution Group via the new deal. He also finds it exciting that the new agreement will give the products and technology more exposure to the broader audience of players and operators, which Evolution boasts globally. After the announcement on Friday morning, shares in STO:EVO (Evolution AB) in Stockholm traded at SEK1,49200 per share (representing a 1.33% increase).
The Evolution Brand Army: The first notable acquisition we saw by Evolution was when the brand took over Ezugi. That deal meant that Ezugi kept its brand name and is still building on its already incredible brand reputation with over 25 live casino games to its name including OTT games which are casino tables hosted inside land-based casinos for both online players and players visiting the casino to place bets. On top of this, Evolution also now owns NetEnt, Red Tiger, and Big Game Time Gaming. And, all these brands are currently breaking into the newly revived US iGaming market where 3 Evolution live studios currently operate while there are 9 more across Europe and Canada.
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