Rakesh Jhunjhunwala-backed Nazara Technologies’ shares up on another acquisition this year
- 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.
AdvertisementGaming 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
The acquired company’s total revenue during FY20 (pre-COVID) was ₹91 crore.
|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 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.
Shares of the company have gained 35% after it debuted on March 30 with a blockbuster listing at 81% premium to its issue price.
AdvertisementSEE ALSO: The crypto market is stuck in a lul
Want to invest in unlisted companies like Ola, Paytm or Byju’s? Here is how you can do it
Facebook appoints former IAS officer as head of public policy, a year after Ankhi Das quit
Popular on BI
- Elizabeth Holmes ordered dinners for Theranos staff but made sure they weren't delivered until after 8 p.m. so they worked late: book
- 2,000 years before 'manscaping' and smooth armpits, the Romans were seriously into hair removal, archaeological findings show
- Some people are apparently ditching their iPhones for a foldable Razr model. Yes, the kind that was popular 20 years ago.
- Explained: Why Apple's new VR headset is the talk of the town despite being priced 3X more than Meta Quest Pro
- Aditya Birla Group to take on Tata, Reliance now in the branded jewellery space
- Indian homes expected to make half their payments digitally in 3 years
- Vision Pro to iOS 17: Apple’s top six announcements at WWDC 2023
- New Apple iOS: If you have these devices, it might be time to upgrade