M&A
Online gaming co. Head Digital Works buys poker platform Adda52 for Rs.491-Cr
Hyderabad-based online gaming company Head Digital Works Private Ltd (HDW), the parent entity of A23, has acquired Goa-based Adda52 ’s holding company Deltatech Gaming Ltd (DGL) for INR 491 crore. The transaction will be completed in two tranches, with HDW initially acquiring a 51% stake in DGL. DGL will merge into HDW, with a 5.7% stake in the company.Founded in 2011, DGL is a subsidiary of Delta Corp Lfd, and owns online gaming apps including Adda52, a poker platform, and Addagames. The poker platform claims to have more than 4.2 million registered users.HDW was founded in 2005 as a skill-based gaming company. Its flagship brand A23 offers real money gaming platforms like A23 Rummy, A23 Poker and Cricket.com to more than 70 million users.
For FY24, Adda 52 had reported about INR 89.93 Cr in Operating Income and about INR -9.67 Cr in PAT.
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