Ace2Three Majority Stake Sold To Clairvest For $74 Million
Partis is pleased to announce the sale of a majority stake in online rummy gaming company Ace2Three by Canadian investment firm Clairvest Group.
The investment, worth $73.7 million (RS 474 crore), has been made in Hyderabad-based company Head InfoTech, which owns the profitable Ace2Three brand.
Partis acted as sell-side advisors for Ace2Three, leading an end-to-end process that resulted in the eventual sale. The deal represents one of the largest transactions to date in India's gaming space.
CEO of Ace2Three Deepak Gullapalli will continue in his role, overseeing the company's services which currently cater to over 8 million online gamers in India.
"While Ace2three will be focused on India," Gullapalli commented, "Clairvest will help with scaling the business and expanding into other gaming products within the social gaming space which will be launched in other geographies outside of India."
For enquiries related to sell-side advisory services contact Rob Dowling, Co-Founder, Partis at email@example.com