Canadian investment firm Clairvest Group and a consortium of investors has acquired a majority stake in the operator of online rummy website Ace2Three, ET Tech reports.
“We just closed the round with Clairvest Group leading it along with a consortium of investors. We were valued at close to $100 million. I will continue as the CEO and Ace2three will continue to be focused on the Indian market,” said Deepak Gullapalli, founder of Head InfoTech.
Ace2three is an online rummy website, owned and operated by Head InfoTech. It was acquired for $73.7 million.
“While Ace2three will be focused on India, 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,” said Gullapalli to ET.
It is understood that Michael Wagman, managing director of Clairvest Group will join the board of Head InfoTech.