Tag Nazara Technologies

Mumbai, July 19, 2024: Nazara Technologies Limited announced the acquisition of additional 48.42% stake in Paper Boat Apps Pvt. Ltd (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of INR 300 crores to be paid in cash in tranches to take its ownership in PBA to 100%.

Paper Boat Apps is the developer and publisher of popular children’s digital gamified learning app ‘Kiddopia’ which is the #3 grossing app for children between 2-8 years of age in the United States of America.

Nazara will also consider merging Paper Boat Apps into the company at the appropriate time to bring home one of the world’s most popular kids gamified learning IP ‘Kiddopia’. This step will allow Nazara to benefit from healthy cash flows that can be reinvested for organic as well as inorganic growth.

Since Nazara’s acquisition in 2019 of a 50.91% stake in Paper Boat Apps, Kiddopia has scaled up significantly and become a much-loved franchise among children globally.

Paper Boat Apps posted a consolidated revenue of INR 219.4 Crores and an EBITDA of INR 56.1 Crores in FY24, with a net cash balance of INR 155.74 Crores as of March 2024.

Nazara aims to execute a multi-pronged strategy to drive growth and expansion of the Kiddopia franchise through IP licensing and integration, global market expansion, deeper synergies within its network, and additional revenue streams including merchandising, video, and advertising revenues, in addition to the current model of subscription revenues.

Nitish Mittersain, CEO and Joint Managing Director of Nazara Technologies, said, “At Nazara, we believe an IP such as Kiddopia has immense potential that can be unlocked through several new initiatives and acquiring full ownership underscores our commitment to intensifying our efforts in the gamified learning sector.”

He added, “Nazara is quickly becoming the go-to platform for entrepreneurs in the gaming, sports, and entertainment sectors globally to access opportunities to scale up and generate liquidity for themselves along the way, as exemplified by this transaction.”

Anupam Dhanuka, Promoter of Paper Boat Apps, remarked, “It has been an incredible journey developing Kiddopia into a beloved app for children and parents worldwide. Following the majority acquisition by Nazara, Kiddopia has scaled tremendously, and we are pleased to see it find a permanent home within Nazara. We believe that Kiddopia has significant potential for future growth, and Nazara is well-positioned to elevate it to the next level. We wish Nazara and the entire Kiddopia team the best of luck in their future endeavours.”

Mumbai, 14 March, 2024 : Nazara Technologies Limited (NSE: NAZARA), a leading gaming and sports media company, today unveiled its ambitious strategy to earmark US$100 million (~INR 830 cr) towards mergers and acquisitions (M&A) within the next 24 months. This strategic initiative underscores Nazara’s commitment to strengthening its global foothold and catalysing its evolution into an eminent gaming platform on the world stage.

Following a recent successful fundraise that garnered Rs. 760 crore (~$90 million) via a preferential allotment that attracted marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others, Nazara is poised for significant expansion in the coming years.

The company is on a quest to identify burgeoning opportunities within the gaming, esports and adtech arenas with a particular focus on established gaming IP’s / studios and also those advancing in cutting-edge technologies like web3, Virtual Reality, and AI.

Commenting on global expansion Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, said, “Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. Our unique decentralised model allows these businesses to operate autonomously by strong management and provides us with significant bandwidth to scale the platform we have created. The $100 million pledge will further boost this opportunity for us in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market”.

Nazara is an active operator in the gaming ecosystem with gaming and esports brands with presence in India, US and other global markets. Some of the prominent names include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam which are global leaders in their respective segments.