Foreign consortium eyes Indian rummy website

Rummy website Ace2Three is set to be acquired by a consortium of foreign funds led by Canadian Private Equity fund Clairvest Group Inc. for around CAD$100 million (US$74 million), according to Glaws.

It is understood that the Clairvest Group and other foreign buyers are set to acquire close to an 85 percent stake in Head Infotech, the owners of Ace2Three.

It is also believed that the consortium will purchase shares of Matrix Partners, Hyderabad-based businessman Rajesh Agarwal and his family as well as other initial promoters.

The deal will be announced soon.