Metaverse and gaming technology company OneVerse has acquired online poker platform Calling Station and fantasy sports platform BatBall11, and is looking to close a few more acquisitions in the next three months. These acquisitions are part of OneVerse’s ongoing M&A strategy to solidify its position in the gaming market.
The company has planned to invest Rs 250 crores across its portfolio of planned investments, said OneVerse CEO E. Paul Micheal. “They [Calling Station and BatBall11] are both very efficient companies when it comes to unit economics and are in a high growth trajectory phase. They have achieved substantial growth with very minimal capital infusion. We believe that they bring a valuable synergy to our gaming portfolio not just in terms of business value but the operating efficiency of their teams which is crucial for the next phase of growth,” he added.
“All three firms have an extensive user base. Coupled with a clear trajectory towards profitability, the acquisitions are ideal assets for OneVerse’s metaverse-centric gaming ecosystem. The acquisition presents an opportunity for seamless integration of networks and players on the platform, promising immersive transactional experiences within the online gaming realm,” said RMB Capital India co-head Dhyanesh Sundarmurthy, who acted as OneVerse’s advisor on the transaction.
“Through this landmark acquisition, we are proud to affirm our dedication to pioneering excellence in the gaming industry,” said Calling Station CEO Arvind Jain.
“By teaming up with OneVerse Gaming, we’re poised to revolutionise gaming experiences, setting new benchmarks for excellence both in India and on a global scale,” shared BatBall11 managing director Varun Parikh.
The terms of the buyout ensure that the management teams of all three firms will remain in place and continue driving growth initiatives within the gaming landscape, said Sundarmurthy.