Spice Route Legal is excited to have advised A23 Games (Head Digital Works Private Limited), one of India’s oldest and most prominent online skill-gaming companies, on its 100% acquisition of Adda52 (Deltatech Gaming Limited), a subsidiary of one of India’s largest gaming and hospitality companies, DeltaCorp Ltd. This transaction marks a significant milestone in the Indian gaming industry and is among the largest acquisitions in the sector, creating a combined entity valued at approximately USD 900 million.

With a user base exceeding 75 million and a diverse portfolio of flagship brands – including A23 Rummy, A23 Poker, and Cricket.com – Head Digital Works has established itself as a leader in India’s rapidly evolving online gaming ecosystem. The target, Deltatech Gaming, is the country’s largest gaming brand, offering best-in-class experiences through its popular platforms such as Adda52, Adda52Games, and Adda52Rummy. This consolidation brings together two of the most well-recognised gaming companies in India, reinforcing their market leadership and expanding their capabilities in an industry poised for significant growth.

The acquisition was led by Partner Praveen Raju, along with a diverse team of specialists from Spice Route Legal. The M&A team included Senior Associate Janhavi Joshi and Associates Shreshtha Garge, Arnav Bose, and Rahul Parekh. Advising on gaming regulatory and intellectual property matters were Senior Associates Soumitra Ponkshe, Ada Shaharbanu, and Associates Ajeeth Srinivas, Digvijay Chaudhary, Vishnu Naduvakkad, Aishwarya N, and Hamsadhwani Algarsamy. The corporate secretarial team comprised Parth Ved and Shraddha Kotiya, and Legal Practice Manager, Susan Saldanha. 

Commenting on the deal, our Partner, Praveen Raju, remarked: “Absolute privilege to have helped stitch together what is the most exciting deal in gaming in India.”

This deal further illustrates Spice Route Legal’s position as the market leader in the gaming sector. 

Should you have any queries, feel free to reach out to us at contact@spiceroutelegal.com.