|About the transaction:
||Sale of a majority equity stake in Head Infotech Pvt Ltd, the operator of Ace2Three.com, to funds managed by Clairvest Group Inc (TSX:CVG), a Toronto-based private equity house.
Akur Capital ran an extensive process to identify and deliver a successful exit for a majority of shareholders. Akur secured a 20x exit multiple for Matrix Partners India, one of its most successful investments to date.
The consideration of $74m represents one of the largest ever transactions in the online gaming space in India.
Deepak Gullapalli, Chief Executive of Head Infotech said:
“Clairvest 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. We are grateful to the Akur team for their work in bringing this complex, cross-border deal together. We have been particularly impressed by their international gaming network, sector knowledge and commitment to the transaction.”