Vancouver, Canada-based i3 Interactive has entered into an agreement with Mumbai-based LivePools Private Limited, whereby i3 Interactive shall acquire 51% of LivePools’ shareholding or the Majority interest for a total of $7.5 million. i3 Interactive will acquire the Majority interest over the course of four tranches.
Under the terms of the agreement signed between the two companies, the rest 49% of shareholding or the Minority interest of LivePools can also be acquired by i3 Interactive for another $7.5 million on or before February 1, 2022.
After the successful launch of BlitzPoker, the above agreement shows i3 Interactive’s commitment in India’s fast growing mobile gaming market to create a world-class ecosystem for gamers. i3 Interactive acquired FTR Poker’s 65% stake and relaunched it as BlitzPoker.
The Livepools and i3 deal will add fantasy sports, quiz games and rummy to the portfolio of i3 Interactive’s offerings. As per a report in Street Insider, they will soon offer esports and skill-based games, as well.
i3 Interactive is focussed on transforming online and mobile gaming with entertainment-based products for sports betting, poker, and casino players. They aim to acquire customers at very low prices compared to their competitors. The company is leveraging its partnership with well-known social media celebrity, businessman, and high-stakes poker player, Dan Bilzerian, who has over 50 million social media followers.
Livepools was launched in 2018 by Gaurav and Vickram Assomull. It is focussed on Fantasy sports, rummy and real money gaming space. The company has about 1.5 million users.