The acquisition will be paid for entirely with cash, totaling €1 million ($1.18 million) up front. In addition, Evolution will provide an earn-out payment over a three-year period that is based on DigiWheel's EBITDA.

The deal is scheduled to conclude and be finalised by the end of 2021, subject to certain closing conditions.

"This announcement gives all of us at DigiWheel a great deal of satisfaction," stated CEO John Purcell. Our crew has been slaving away for nearly nine years to produce a remarkable product that is an original, one-of-a-kind invention in digital gaming.

"This deal is extremely exciting as it will bring our unique products and technology into the Evolution Group and expose them to an even wider global audience of operators and players."

The goal of this agreement is to use DigiWheel's cutting-edge digital technology to expand Evolution's online gaming portfolio. Then, in addition to Evolution's wheel-based games—Dream Catcher, Crazy Time, and others—this can be utilised in its online Live Casino games and performances.

"We are always looking out for interesting technology, and we have been impressed by what DigiWheel has developed," said Martin Carlesund, CEO of Evolution Group. I'm glad we were able to come to this understanding.

"DigiWheel is a perfect match for Evolution's product line. Wheel games have shown to be successful for us, and we are obviously dedicated to developing the most captivating and thrilling gaming environments that are accessible in online casinos.

Along with NetEnt, Red Tiger, Big Time Gaming, and Ezugi, DigiWheel will remain a brand under the Evolution umbrella, providing further variety for both online and brick-and-mortar operators.