Industry Supplier i3 Interactive announced that it has entered into an agreement with an unnamed British Columbia Corporation. As per the agreement, i3 Interactive would acquire all the shares of the corporation that owns and operates a Poker Brand in the Indian Market.
After the deal is closed, i3 Interactive would hold 65% control over the brand. The brand has a poker network in India with over 1mn registered users and 75000 active users as of July 2020.
The company has planned to relaunch the operation under the brand name Blitzpoker. This is built with a partnership with Social Media influencer, Dan Bilzerian, also known as King of Instagram.
The relationship has already started and the Blitzbet brand has already been launched. The brand wants to reach a large appeal relying on the reach of Bilzerian’s social media audience.
As per the reports, Blitzpoker is going to offer various modes of the game in Texas Hold’em and Omaha for players with all skill levels.
As per the acquisition, former shareholders of the British Columbia Corporation will receive one common share in the new capital of the company in exchange for each target share held by them. Currently, there are 5,159,600 target shares issued and outstanding.
The deal is subject to regulatory approvals.