Metaverse and gaming tech company OneVerse has acquired online poker start-up Spartan Poker for an undisclosed amount. This comes at a time when the sector is reeling under 28 per cent GST and customer retention.
- Also read:Industry bodies, firms welcome Madras HC order to set aside Tamil Nadu ban on online rummy, poker
The acquisition is a continuation of its M&A strategy and has set aside close to $120 million for acquiring more businesses over the next three months, said the company in a statement.
Spartan Poker’s management team will continue to hold their respective positions and deliver growth and further value creation.
Founded in 2014 by Amin Rozani, Sameer Rattonsey, and Peter Abraham, Spartan Poker is an online poker platform that claims to have over 2 million registered users and has generated a consolidated revenue worth ₹200 crore over the last two years.
Expanded portfolio
“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,” said E Paul Micheal, CEO of OneVerse.
Spartan’s creativity integrated with OneVerse’s technological expertise may lead to an expanded portfolio of games that seamlessly integrate immersive experiences with state-of-the-art technology, the statement said.
This acquisition comes months after Spartan Poker was reported to have laid off about 125 employees, that is around 40 per cent of its total workforce, for grappling with the new tax regime.