India Dealbook: Wibmo acquires Mypoolin; Head Infotech picks up majority stake in FanFight

While US-based Wibmo Inc has acquired payment solution provider Mypoolin, gaming firm Head Infotech has picked up majority stake in FanFight.

US-based Wibmo acquires Mypoolin

US-based digital payment company Wibmo Inc has acquired payment solution provider Mypoolin in a cash and stock deal for an undisclosed amount.

According to a Mint report, under the terms of the deal, the founders will join Wibmo’s India office and while Mypoolin will continue to operate as an Indian subsidiary of Wibmo it will gradually be integrated with Wibmo.

As per sources cited in the news report, the deal was valued above $1 million and all existing investors will get a combination of stock and cash.

Founded in 2015, Mypoolin raised $250,000 from Qualcomm Ventures, Accel Partners, Investopad and other prominent angel investors that same year. In total the company has raised less than $500,000.

Through the acquisition, Wibmo plans to use Mypoolin acquisition for expanding its consumer base.

Gaming firm Head Infotech picks up majority stake in FanFight

Gaming firm Head Infotech Pvt Ltd, which owns and operates Ace2three, has acquired majority stake in FanFight in lieu of a $1 million investment.

The acquisition marks Head Infotech’s  to foray into fantasy sports, the company said in a statement. It is also mentoring the FanFight team by leveraging their experience in the online gaming space, it added.

The acquisition comes a year after Hyderabad-based Head InfoTech India Pvt Ltd raised $73.7 million in funding from Canadian private equity firm Clairvest Group Inc and limited partnerships controlled by it.

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