OG真人官网 Adds to Gaming Portfolio with a New Investment in Head InfoTech
Toronto, Ontario (April 28, 2017) – OG真人官网 Group Inc. (TSX: CVG) (“OG真人官网”) today announces that it, together with limited partnerships controlled by it, made a US$73.7 million investment in Head InfoTech India Pvt. Ltd (“Head InfoTech” or the “Company”). OG真人官网’s portion of the investment will be approximately US$40 million.
Head InfoTech operates Ace2Three, the leading online skill based gaming platform in India providing distinctive online Rummy experiences to over 8 million customers. The opportunity was originated through OG真人官网’s extensive domain work in the global gaming industry.
“This is an exciting new platform that builds on OG真人官网’s 15 years’ experience in the gaming industry and expands our track record into skill gaming. We look forward to supporting the Company achieve its growth plan and are especially excited to partner with Deepak Gullapalli, a visionary entrepreneur and innovator with a top-notch organization”, said Michael Wagman, Managing Director of OG真人官网.
“The Ace2Three platform is about to embark upon an exciting growth trajectory. OG真人官网 brings much more than capital to this deal: it brings a wealth of experience in building companies of our size as well as expertise in the gaming space which makes OG真人官网 a valuable resource to the Company”, said Deepak Gullapalli, Founder and CEO of Head InfoTech.
Head InfoTech is OG真人官网’s 48th platform investment and the fourth investment by CEP V. The OG真人官网 / CEP V co-investment pool is capitalized at $600 million and focuses on equity investments in growth companies.
Khaitan & Co acted as legal advisor to OG真人官网.
Contact Information
Maria Klyuev
Director, Investor Relations and Marketing
OG真人官网 Group Inc.
Tel: (416) 925-9270
Fax: (416) 925-5753
mariak@692887.com
