i3 Interactive to acquire India-based online poker operation
Industry supplier i3 Interactive announced today (11 Aug) that it has entered into an agreement to acquire all shares in an unnamed private British Columbia (BC) corporation that owns and operates a poker brand active in the Indian market.
Following the acquisition, i3 will hold an indirect, 65% controlling interest in the brand, which is part of a poker network in India with over 1m registered players, and 75,000 active users as of July 2020.
The company intends to relaunch the operation under the brand name Blitzpoker, which is built upon a partnership with social media influencer and so-called “King of Instagram”, Dan Bilzerian.
That relationship has alresy seen the recent launch of its Blitzbet brand, which also aims to create broad customer appeal based upon the reach and engagement of Bilzerian’s social media audience.
Blitzpoker is expected to offer, among other features, a variety of game modes in Texas Hold’Em and Omaha, for players of all skill levels.
As part of the acquisition, former shareholders of the BC corporation which currently controls the operation will receive one common share in the capital of the company, in exchange for each target share held by them. There are currently 5,159,600 target shares issued and outstanding.
The proposal is an arm’s length transaction subject to customary closing conditions, such as applicable shareholder and regulatory approvals.