Delta Corp To Acquire 26 Percent Stake In Gaussian Networks
By Brian Cullingworth, Last updated Sep 2, 2016
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.
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Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.
We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.
His passing in February 2019 was a dark day for us. He will be forever missed.
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