Ace2Three under new ownership
News on 1 May 2017
News on 1 May 2017
Canadian private equity firm Clairvest has announced that it has acquired a controlling stake in Head Infotech, the parent company of popular Indian online rummy website Ace2Three, in a move that should boost international expansion plans.
The controlling stake cost Clairvest and its unidentified partners the equivalent of US$73.8 million, with US$40 million coming from Clairvest itself.
The current Infotech management, led by CEO Deepak Gullapalli is to remain in place, whilst a senior Clairvest executive is to join the board of directors.
With an Indian player-base of almost 8 million, Ace2Three is among the top three most popular rummy sites in the Indian market, fighting for market share against rivals Rummycircle and Junglee Rummy.
Clairvest managing director Michael Wagman said in a company statement that Ace2Three is an exciting new addition for Clairvest and will build on the firm’s 15 years’ of experience in the gaming industry whilst expanding the company’s penetration into the skill gaming sector.
