Head Infotech invests in FanFight for majority stake
Head Infotech has announced its investment of one million US dollars in FanFight for a majority stake in the business. This is a result of a strategic business move to foray into fantasy sports. Head Infotech owns and operates Ace2three, India’s No. 1 online rummy platform and Witty Games, a fast-rising player in the online social casino segment.
The company strives to bring a cutting edge transformation to the Indian gaming industry through their top notch innovations. They commenced their journey in 2006 as pioneers in the online rummy space and created Ace2Three and later launched Witty Games in mid-2017. With a view of further diversification, Head Infotech has entered into the fantasy gaming segment as a strategic partner to FanFight – a recently-launched fantasy sports platform. It is also mentoring the FanFight team by leveraging their experience in the online gaming space.
“We are excited to invest and be a part of the FanFight team’s journey. It is an excellent product and we are confident that consumers will enjoy using FanFight’s platform. We are happy to begin our innings in this industry through FanFight and wish Akhil and his team the very best,” said an upbeat Deepak Gullapalli, CEO, Head, Infotech India Private Limited.
On the occasion, Akhil Suhag, CEO, WCFN Solutions Private Limited, said, “As the new entrants on the block, we are thrilled to have India’s leading online gaming company as our strategic partner. For me, and the rest of the team, we are ready and raring to go and give the Indian audience a unique alternative to fantasy sports offerings. We have gained a lot from the Head Infotech team during the development phase and hope to continue leveraging their experience going ahead.”
All of this comes at a time when the Indian online gaming industry is going to add 190 million gamers taking it to 310 million gamers and becoming a US$1-billion opportunity by 2021, from the present US$290 million. Come 2020, the fantasy gaming industry alone is likely to generate over US$150 million in revenues.