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Nazara acquires IP rights of Ultimate Teen Patti from Games24x7

EntrackrEntrackr · 11m ago
Nazara acquires IP rights of Ultimate Teen Patti from Games24x7
Medial

Nazara Technologies’ mobile gaming arm Next Wave Multimedia has acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore. Ultimate Teen Patti lets users play teen patti, a form of poker, online and with other competitors without any real money and is designed as a free to play online game. It claims to have achieved a gross turnover of Rs 7 crore in the financial year 2022-23 (FY23). With the acquisition, Nextwave will expand its offerings in the casual freemium gaming space. Recently, Nazara announced the acquisition of an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore. In May, Nazara acquired 100% stake in mobile gaming subsidiary Nextwave Multimedia by buying the remaining 28.12% from founders. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space.

Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn

EntrackrEntrackr · 10m ago
Nazara acquires 47.7% stake in PokerBaazi’s parent for $100 Mn
Medial

Gaming firm Nazara has announced an investment of Rs 982 crore in PokerBaazi’s parent company, Moonshine Technology, to acquire a majority stake through a mix of secondary and primary share purchases. Nazara’s board has approved the acquisition of 18,96,674 equity shares of Moonshine from existing shareholders, including PSM Group, Bellerive Capital, and other individuals, via a secondary purchase, according to a disclosure sourced from the National Stock Exchange. The Mumbai-based company will acquire a 47.7% stake for a total consideration of Rs 832 crore ($100 million), which includes a secondary purchase of Rs 592 crore and a share swap valued at Rs 239 crore. As part of the deal, Nazara will also invest Rs 150 crore to purchase primary shares of Moonshine. This additional investment will make Nazara as the majority stakeholder in PokerBaazi. This deal represents one of the largest consolidations in the poker space, which is considered a skill-based gaming segment. PokerBaazi accounts for over 85% of Moonshine’s net revenue, while its fantasy sports platform, SportsBaazi, contributes 12%. As of May 2024, PokerBaazi reported approximately 340,000 monthly active users. Entrackr reached out to PokerBaazi and Nazara Games last month with a detailed questionnaire regarding the deal. At that time, PokerBaazi’s spokesperson dismissed the news as fake, while Nazara’s spokesperson referred to it as mere speculation. Nazara has been on an acquisition and investment spree since FY25, having acquired or invested in six startups over the past few months. Earlier this week, it acquired a 15.86% stake in e-sports startup Stan. Last month, it acquired UK-based Fusebox Games for $27.2 million in an all-cash transaction. Additionally, Nazara acquired Kiddopia’s developer Paper Boat Apps, secured IP rights for Ultimate Teen Patti, and took over assets of DeltiasGaming.

Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play

EntrackrEntrackr · 7m ago
Nazara invests Rs 196 Cr in five firms including Funky Monkeys Play
Medial

Nazara Technologies Limited, India's premier listed gaming and esports company, has invested Rs 196 crores in four gaming companies. The company acquired a 60% stake in Funky Monkeys Play for Rs 43.7 crore. This investment in Funky Monkeys Play is aimed to expand Nazara’s footprints into physical entertainment. Nazara also invested Rs 4.2 crores in LearnTube.ai, an AI-driven educational platform with over 20 lakh users, to improve gamified learning experiences. The rest of the Rs 148 crore has been allocated to existing subsidiaries, including Nodwin Gaming, Sportskeeda, and Datawrkz at Rs 64 crore, Rs 69 crore and Rs 15 crore, respectively. “These initiatives align with our vision of creating a diversified global gaming and entertainment platform,” said Nitish Mittersain, CEO, Nazara. Nazara continues to dominate India's esports landscape with back to back acquisitions through main and subsidiaries. Recently, Nazara-backed NODWIN Gaming acquired a gaming agency Trinity Gaming for $2.8 million. In October, Nazara' subsidiary Datawrkz acquired a 100% stake in UK-based Space & Time. It also invested Rs 982 crore in PokerBaazi’s parent Moonshine Technology and acquired stakes in e-sports companies such as Stan, Fusebox Games, Kiddopia’s developer Paper Boat Apps, Ultimate Teen Patti, and DeltiasGaming. Last month, the Mumbai-based firm also raised Rs 855 crore (approximately $100 million) through a preferential issue. Nazara’s revenue from operations reported a modest growth of 7.4% Q-o-Q to Rs 319 crore in Q2 FY25 with profits increasing only 2.4% to Rs 21.75 crore in the same period. Before the market closed on Monday, the company’s shares were trading at Rs 1,012, with a total market capitalization of Rs 7,747 crore (approximately $922 million).

Nazara’s Absolute Sports acquires assets of DeltiasGaming

EntrackrEntrackr · 11m ago
Nazara’s Absolute Sports acquires assets of DeltiasGaming
Medial

Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com, has signed an asset purchase agreement to acquire all the assets of DeltiasGaming.com, a premier source of gaming and e-sports content in the US. The transaction is for an all-cash consideration of $900K ( around Rs 7.5 crore) to be paid over one or more tranches and is expected to be closed in the next 45 days. Last month, Nazara Technologies’ mobile gaming arm Next Wave Multimedia acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore. It also announced the acquisition of an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore. In May, Nazara acquired 100% stake in mobile gaming subsidiary Nextwave Multimedia by buying the remaining 28.12% from founders. DeltiasGaming.com had revenues of $575K (around Rs 4.8 crore) for the twelve-month period ending June 2024. As per Absolute Sports, it will use its cash reserves to fund the transaction. With this acquisition, Absolute Sports aims to deepen its presence in the gaming and esports media publishing sector in the US region. It plans to use Deltia’s Gaming’s user base of almost 1.5 million monthly readers and its long-standing brand equity to establish the group as an authoritative voice in the gaming media space. The acquisition also provides the group access to a large audience on YouTube and popular gaming streaming network Twitch under the Deltia’s Gaming brand.

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