OneVerse, a metaverse and gaming tech company, seals another groundbreaking acquisition deal, bolstering its presence in the Indian gaming market. Following its acquisition of Spartan Poker last month, the company has now acquired the popular online poker platform Calling Station and fantasy sports app BatBall11, underscoring its ambitions to become a dominant player in India’s gaming space.
OneVerse is aggressively reshaping the Indian gaming sector and aims to become India’s top gaming firm with a $120 million investment in the first phase and plans to acquire as many as 13 companies.
Recognizing the potential of Batball11 and Calling Station, E. Paul Micheal, CEO of OneVerse Gaming, said, “We are very impressed with the execution capabilities of the leadership at Batball11 and Calling Station. 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 also in terms of the operating efficiency of their teams, which is crucial for the next phase of growth.”
Calling Station is the fastest-growing online destination to play online poker. “At Calling Station, we stand at the forefront of gaming innovation, delivering an unparalleled experience driven by cutting-edge software and unwavering commitment to online safety and security. Through this landmark acquisition, we are proud to affirm our dedication to pioneering excellence in the gaming industry. At Calling Station, we’ve always prioritized delivering top-notch gaming experiences with a steadfast commitment to security and inclusivity,” said Arvind Jain, CEO, Calling Station.
“Through our collaboration with these firms, we aspire to redefine the realm of innovation, offering unmatched gaming encounters to our user base in India and across the globe. This strategic acquisition is a testament to our shared vision to redefine the gaming industry,” stated Varun Parikh, Managing Director, BatBall11. “By teaming up with OneVerse Gaming, we’re poised to revolutionize gaming experiences, setting new benchmarks for excellence both in India and on a global scale,” added Parikh. For those who don’t know, BatBall11 is one of India’s fastest growing fantasy sports companies, that also forayed into poker, rummy, ludo, and other casual games recently.
Dhyanesh Sundarmurthy, Co-Head of RMB Capital India, who advises OneVerse on the acquisition deals, stated that the buyout terms ensure continuity, with the existing management teams of all three companies dedicated to driving growth initiatives forward.
Prashanth Joshua, the founder of OneVerse, underscored the importance of these acquisitions, particularly addressing challenges posed by the 28% GST on player deposits in the real-money gaming (RMG) sector. He also emphasized the significance of these partnerships to alleviate financial pressures for RMG companies, thus allowing for substantial cost efficiencies and operational synergies. Hinting at the benefits of such landmark collaborations for gaming firms, Joshua pointed out substantial savings on operational costs, including marketing, salaries, and technology expenses, as a key benefit.
OneVerse seeks to streamline diverse companies, mitigate the adverse effects of GST, and redefine India’s gaming panorama. With its ambitious expansion drive, OneVerse is poised to build a gaming empire, propelling India onto the global gaming stage.
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