OneVerse Acquires Spartan Poker To Venture Into Real-Money Gaming

SUMMARY

Founded in 2014 by Amin Rozani, Sameer Rattonsey, and Peter Abraham, Spartan Poker is an online poker platform

According to OneVerse, this is a continuation of its merger and acquisitions strategy and in the next three months will spend about $120 Mn to acquire more enterprises

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

Metaverse and gaming-tech company OneVerse Gaming has bought online game development studio Spartan Poker for an undisclosed amount.

OneVerse said in a statement that the acquisition is a continuation of its M&A strategy and has set aside close to $120 Mn for acquiring more businesses over the next three months.

The statement further said that 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 Mn registered users which generated a consolidated revenue worth INR 200 Cr over the last two years.

OneVerse CEO E. Paul Micheal said, “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.”

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 or 40% of its total workforce, for grappling with the new tax regime.

Also, it was one of the companies whose invitation for a closed-door meeting with the Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar were retracted by Internet and Mobile Association of India (IAMAI).

In December last year, yet another gaming studio Octro announced the acquisition of Israel-based DGN Games for an undisclosed amount.

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