DELTA CORP TO ACQUIRE 26 PERCENT STAKE IN GAUSSIAN NETWORKS
Enters online sector with Adda52.com
Bombay stock exchange-listed Delta Corp will acquire a 26 percent stake in online poker operator Adda52.com parent company Gaussian Networks for a cash consideration of Rs.47.30 crore.
The proposed acquisition of 2,501 equity shares and 10,753 compulsorily convertible preference shares represents 25.99 percent of Gaussian Networks Private Limited.
"With this transaction, Delta will widen its business horizon and increase its overall footprint, thereby consolidating its overall leadership position,” a press statement reads.
Gaussian Network Private Limited, which owns and operates India’s largest online poker site adda52, will become a subsidiary of Delta.