OneVerse acquires leading online gaming company Spartan Poker
With over 2 million registered users, Spartan Poker is one of the largest online platforms for Poker in India and over the last two years, it had revenues of ₹200 crores. An early adopter in the poker industry, Spartan offers over 500 crores in prize pool each year.
New-age metaverse and gaming tech company, OneVerse has acquired leading online gaming company, Spartan Poker. The venture claims this acquisition marks a pivotal moment in the evolution of both companies and will redefine the future of gaming.
This is a continuation of OneVerse’s M&A strategy looking to consolidate the gaming market and work towards becoming India’s premier gaming company. CNBC-TV18 learns that OneVerse is also looking to close a few additional acquisitions in the next three months for $120 million.
With over 2 million registered users, Spartan Poker is one of the largest online platforms for Poker in India and over the last two years, it had revenues of ₹200 crores. An early adopter in the poker industry, Spartan offers over 500 crores in prize pool each year.
Speaking on the acquisition, Dhyanesh Sundarmurthy, Co-Head, RMB Capital India, who acted as OneVerse's advisor on the transaction, said, "Spartan has a huge user base, with a definite path to profitability. The potential for immersive transactions through online gaming makes it a perfect fit for OneVerse's MetaVerse-based gaming platform. The deal entails the integration of the networks and players on the platform. While it is a 100% buyout, the management team will remain and continue to deliver growth and further value creation."
Paul Micheal, CEO of OneVerse Gaming, expressed enthusiasm about the acquisition, stating, "This strategic move signifies our commitment to shaping the future of gaming. By joining forces with Spartan Poker, we aim to push the boundaries of innovation, delivering unparalleled gaming experiences to our users in India and worldwide."
Spartan Poker's Founder and CEO, Amin Rozani, added, "We are thrilled to be part of OneVerse's journey. This acquisition opens up new horizons for creativity and technological advancements, and we look forward to creating extraordinary customer gaming experiences together."
The union brings together OneVerse's technological prowess and Spartan's creative excellence, promising an array of groundbreaking products and experiences for gamers worldwide. The acquisition also establishes OneVerse as an innovation hub, blending Spartan's creative talent with OneVerse's technological expertise to drive the next wave of gaming innovations.
Gamers can now anticipate an expanded portfolio of cutting-edge games that seamlessly integrate immersive experiences with state-of-the-art technology. Meanwhile, with a widened global footprint, OneVerse is poised to reach new markets and engage with diverse gaming communities around the world.
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