Rakesh Jhunjhunwala-backed Nazara Technologies’ shares up on another acquisition this year

Sep 22, 2021, 13:24 IST

In pic (L-R) – Anupam Dhanuka (Co-founder and CEO, Kiddopia), Anshu Dhanuka (Co-founder and CPO, Kiddopia) and Nitish Mittersain (Founder and MD, Nazara Technologies Ltd.)Nazara Technologies

Shares of Nazara Technologies gained today as the company’s subsidiary NODWIN Gaming acquired the gaming and adjacent IP business of OML Entertainment for ₹73 crore.
OML Entertainment is known for managing some of India’s biggest gaming and entertainment creators such as Tanmay Bhat, Samay Raina, Suhani Shah etc.
This is the third acquisition by the gaming company after it got listed on the Indian stock exchange on March 30, 2021.

Gaming company Nazara Technologies has made its third acquisition this year by buying the gaming and adjacent intellectual property (IP) business of OML Entertainment for ₹73 crore through its subsidiary NODWIN.

Earlier in 2021, the company had acquired gaming platform OpenPlay and gaming agency PublishMe.

Shares of the company gained 4% on Monday, after it announced the acquisition on Friday, September 17, after market hours.

OML Entertainment is known for managing gaming and entertainment creators such as Tanmay Bhat, Samay Raina, Suhani Shah, among others. And also for owning and executing IPs such as the BACARDÍ NH7 Weekender, LOLstars, Headliners, hip-hop league – Breezer Vivid Shuffle, among others.

“We strongly believe that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters and brands,” said Akshat Rathee, managing director, at NODWIN Gaming.

Rakesh Jhunjhunwala owns 10.82% stake or 32.94 lakh shares in Nazara Technologies.

Some of Nazara’s top acquisitions

Startup	Sector	Investment
OpenPlay	Multi-game consumer gaming platform	₹186.4 crore
PublishMe	Mobile game publishing agency	₹20 crore
Paper Boat Apps	Mumbai-based indie studio	₹83.5 crore
Sports Unity	Creator of multiplayer quiz called Qunami	₹7.5 crore
Sportskeeda	Sports media platform	₹44 crore
Bakbuck	Local languages gaming platform	Undisclosed
Halaplay	Fantasy gaming platform	₹40 crore

The acquired company’s total revenue during FY20 (pre-COVID) was ₹91 crore.

The company says this transaction allows NODWIN Gaming to massify gaming and esports by tapping into emerging synergies in gaming entertainment that a 14 to 30-year-old is looking for.