Head Digital Works Acquires Adda52 Parent Firm for Rs 491 Crore
Head Digital Works (HDW) has announced the acquisition of Deltatech Gaming Ltd (DGL), the parent company of online poker platform Adda52, for Rs 491 crore.
Photograph: Mike Blake/Reuters
New Delhi, Feb 21 (PTI) Head Digital Works (HDW), an online skill gaming company, on Friday, said it will acquire Deltatech Gaming Ltd (DGL), the parent firm of online poker platform Adda52, for Rs 491 crore.
The transaction will be executed in two phases, according to a company statement.
"HDW will acquire 51 per cent of Deltatech Gaming, followed by a merger of DGL into HDW. Upon completion of the merger, DeltaCorp Ltd ("DCL") will hold a 5.7 per cent stake in HDW," it said.
HDW develops and operates real-money gaming platforms like A23 Rummy and A23 Poker.
"...we aim to expand our poker business, accelerate growth through new avenues and create India's most comprehensive and diversified skill-gaming platform for our customers," HDW Founder and CEO Deepak Gullapalli said.
The transaction will be executed in two phases, according to a company statement.
"HDW will acquire 51 per cent of Deltatech Gaming, followed by a merger of DGL into HDW. Upon completion of the merger, DeltaCorp Ltd ("DCL") will hold a 5.7 per cent stake in HDW," it said.
HDW develops and operates real-money gaming platforms like A23 Rummy and A23 Poker.
"...we aim to expand our poker business, accelerate growth through new avenues and create India's most comprehensive and diversified skill-gaming platform for our customers," HDW Founder and CEO Deepak Gullapalli said.
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