The acquisition of online rummy operator Ace2three by Delta Corp may not be going ahead, as the company focuses instead on bolstering the online rummy product of Adda52, Glaws reports.
Anuj Gupta, CEO and founder of Adda52 affirmed that the company has been focusing on developing its rummy product.
“While we launched our online rummy product around 3 years ago, with the acquisition by Delta Corp and support given by them, we now have greater bandwidth and financial budget to foray aggressively into the online rummy space. When we launched, there were already established players in the online rummy space. After establishing leadership position in poker, we have now decided to focus on rummy. We have attracted a fair amount of traction in the last few months with our renewed focus on rummy and we aim to become a prominent player in the rummy space in the coming days” says Gupta.
Last September, Delta Corp was set to acquire online rummy website Ace2three.com, owned by Head Infotech Pvt. Ltd. for around $80-100 million.
However, it is understood that the Delta Corp’s management believe that the acquisition may not make strategic sense as Adda52 had already been focusing on growing its rummy product.
It is also believed that the acquisition has not been announced due to the high valuation of Ace2three.