Delta Corp's Strategic Move: Merging with Head Digital Works in a Rs 491 Crore Deal
Deal News | Feb 20, 2025 | EIN
Delta Corp Limited, a leader in India's casino and gaming industry, has forged a pivotal agreement with Head Digital Works Private Limited (HDW) for the acquisition of Deltatech Gaming Limited (DGL). Valued at approximately INR 491 Crore, this strategic deal involves HDW initially acquiring a 51% stake in DGL, followed by a full merger of DGL into HDW. Consequently, Delta Corp will retain a 5.7% share in HDW post-merger. This move consolidates two major online gaming forces in India, as DGL's Adda52 platform aligns with HDW's A23, enhancing their footprint in India's lucrative real-money gaming sector. This consolidation, heralded by Indium Capital Advisors and legally supported by AZB & Partners and Spice Route Legal, marks a critical juncture in India's gaming industry poised for further growth.
Sectors
- Online Gaming
- Mergers and Acquisitions
- Investment Banking
Geography
- India – The entire transaction and its impact are based in India, with Indian companies and an Indian market focus mentioned throughout the article.
Industry
- Online Gaming – The article centers around a merger in the online gaming industry, particularly focusing on platforms that feature poker and rummy.
- Mergers and Acquisitions – This sector is relevant as the article discusses an acquisition and merger agreement between two major companies.
- Investment Banking – Investment banking services are involved as Indium Capital Advisors is acting as an exclusive advisor for the deal.
Financials
- INR 491 Crore – The total value of the acquisition and merger deal between Delta Corp Limited and Head Digital Works.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Delta Corp Limited | Selling Company | Company | A leading casino and gaming company in India, divesting Deltatech Gaming Limited. |
| Head Digital Works Private Limited | Bidding Company | Company | An online gaming company in India acquiring Deltatech Gaming Limited and merging with it. |
| Deltatech Gaming Limited | Target Company | Company | Operator of the online poker platform Adda52, being acquired and merged. |
| Indium Capital Advisors | Investment Banking Advisor | Company | The exclusive investment banking advisor for this transaction. |
| AZB & Partners | Legal Advisor | Company | Provided legal counsel to Delta Corp Limited for the deal. |
| Spice Route Legal | Legal Advisor | Company | Provided legal counsel to Head Digital Works for the deal. |