TORONTO – i3 Interactive Inc. (CSE: BETS) (FRA: F0O3) announced it has entered into an agreement with LivePools Private Limited, whereby the Company shall acquire 51% of shareholdings in LivePools for an aggregate of USD $7,500,000. The Company shall acquire the Majority Interest over the course of four tranches.
Under the terms of the LivePools Agreement, the Company has the option to acquire the remaining 49% of shareholdings in LivePools for USD $7,500,000. The Company has the right to exercise the option to acquire the Minority Interest on or before February 1, 2022.
i3 Interactive Inc. says the agreement represents i3’s commitment to the online gaming market in India, which continues to exceed expectations as the fastest growing online gaming market in the world. With this controlling interest, i3 has expanded beyond its successful launch of BLITZPOKER, executing on its strategy to create a world class experience and ecosystem for gamers. With this investment comes the addition of fantasy sports, rummy and quiz gaming to go along with i3’s already successful poker product launch, continuing to round out the ecosystem which will soon include a number of additional product offerings such as esports and skill-based gaming.
i3 is in the business of providing customers with an online and mobile gaming platform to provide sports fans worldwide with a unique and highly-engaging social gaming product, and sports betting and casino product offering.
LivePools Pvt. Ltd is a company registered in India focusing within the Fantasy sports, rummy and real money gaming space launched in 2018 by Gaurav and Vickram Assomull. The company has grown to over 1.5M users with the aim to be at 10M by Q1 2022.
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