Rummy portal Ace2Three eyes global expansion after $73.7M sale

Head Infotech Pvt. Ltd., the company that operates Indian rummy website Ace2Three, has found a new owner to help with its global expansion plans.

Canadian private equity fund Clairvest Group and its foreign partners announced over the weekend that they have acquired a majority stake in Head Infotech for an estimated INR474 crore (US$73.7 million). Clairvest’s portion of the investment will likely reach US$40 million, the firm said in a statement.

Head Infotech founder and CEO Deepak Gullapalli will remain as chief executive, while Michael Wagman, managing director of Clairvest Group, will join the board.

“While Ace2Three will be focused on India, Clairvest will help with scaling the business and expanding into other gaming products within the social gaming space which will be launched in other geographies outside of India,” Gullapalli told the Economic Times.