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Nazara acquires IP rights of Ultimate Teen Patti from Games24x7

EntrackrEntrackr · 1y 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 15.86% stake in e-sports startup Stan for $2.2 Mn

EntrackrEntrackr · 11m ago
Nazara acquires 15.86% stake in e-sports startup Stan for $2.2 Mn
Medial

Gaming and sports media company Nazara has acquired a 15.86% stake in Stan, a blockchain-based e-sports fan engagement startup, for an aggregate cash consideration of up to $2.2 million. Last month, Nazara Technologies acquired Fusebox Games Limited, a UK-based gaming studio for Rs 228 crore ($27.2 million) in an all-cash transaction. The current acquisition strengthens Nazara’s position in the gaming and e-sports landscape, the company said in a stock exchange filing. Founded by Chadha, Rahul Singh, Nauman Mulla, and Shubham Gupta in 2022, Stan provides a web3-based platform for creators to build, monеtisе communitiеs and allow usеrs to engage with their favourite gaming creators or celebrities through digital collectibles, chat or audio rooms, and еxclusivе cеlеbrity communities. In January this year, Stan raised $2.7 million from Aptos Labs, Maelstrom Fund and others. In May 2022, the Bengaluru-based startup raised $2.5 million in its seed round led by General Catalyst and others. With a userbase of over 12 million, the startup claims to have a turnover of $1.8 million as of March 31, 2024. Nazara’s operating revenue fell 6.06% to Rs 250 crore in Q1 FY25 from Rs 266.2 crore in Q4 FY24. E-sports formed 52.73% of the company’s total operating revenue whereas the gaming segment had a share of 37.11% followed by ad tech which accounted for 10.26% of the topline. In the past few months, Nazara has done a bunch of deals including the acquisition of Kiddopia’s developer Paper Boat Apps, buying IP rights of Ultimate Teen Patti and taking over assets of DeltiasGaming.

Nazara’s Absolute Sports acquires assets of DeltiasGaming

EntrackrEntrackr · 1y 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.

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

EntrackrEntrackr · 11m 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 · 8m 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 posts 250 Cr revenue in Q1 FY25, profit spike 38%

EntrackrEntrackr · 1y ago
Nazara posts 250 Cr revenue in Q1 FY25, profit spike 38%
Medial

Gaming and sports media company Nazara Technologies operating revenue has decreased marginally in Q1 FY25. However, the firm managed to grow its profit by over 38% majorly due to low deferred tax. Nazara’s operating revenue fell 6.06% to Rs 250 crore in Q1 FY25 from Rs 266.2 crore in Q4 FY24, its unaudited consolidated financial statements sourced from National Stock Exchange (NSE) show. e-sports formed 52.73% of the company’s total operating revenue whereas the gaming segment had a share of 37.11% followed by ad tech which accounted for 10.26% of the topline. Nazara also made Rs 25.57 crore via interest and gains on financial assets during the quarter which pushed its overall revenue to Rs 275.65 crore. The company reduced its total expenses by 15.44%, bringing them down to Rs 241 crore in Q1 FY25 from Rs 285 crore in Q4 FY24. Content, events, and web servers collectively contributed 35.17% to the total expenses, while employee benefits and marketing accounted for 21.28% and 17% of the total costs, respectively. Nazara’s fall in expenses led to a 38.53% spike in profit which stood at Rs 23.62 crore in Q1 FY25 against Rs 17 crore in Q4 FY24. With more than a dozen brands under its portfolio, Nazara Technologies is on an acquisition spree. As per TheKredible, the company has acquired 14 startups to date, with 4 deals concluded in the last two months including Fusebox Games, Kiddopia’s developer Paper Boat Apps, IP rights of Ultimate Teen Patti and assets of DeltiasGaming. Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years and plans to invest $100 million for mergers and acquisitions in the coming two years. Nazara also made headlines last month when Openplay Technologies and Halaplay Technologies, the two subsidiaries of the gaming firm, received notice from the Goods and Services (GST) department to pay nearly Rs 1,120 crore in retrospective taxes for the period of FY18 to FY23. Nazara made its entry into the public market in March 2021 at Rs 1,990 per share and achieved an all-time high of over Rs 2,600 in October 2021. The company also went for a stock split in June 2024 at a 2:1 ratio. Its current share price stands at around Rs 932.15 with a market cap of Rs 7,130 crore or $$850 million, as of Aug 14, 2024 (IST 1:00 PM).

Nazara acquires UK based Fusebox Games for $27.2 Mn

EntrackrEntrackr · 1y ago
Nazara acquires UK based Fusebox Games for $27.2 Mn
Medial

Gaming and sports media company Nazara Technologies has acquired Fusebox Games Limited, a UK-based gaming studio for Rs 228 crore ($27.2 million) in an all-cash transaction. Fusebox publishes an interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs. In CY23, the company reported revenues of Rs 87.5 crore ($10.4 million) with an EBITDA of Rs 11.7 crore ($1.4 million). During CY24, Fusebox claims to have recorded a strong growth with year-to-date revenues (January- July 2024) at Rs 116.6 crore ($13.9 million) with an EBITDA of ~Rs 33.3 crore ($4 million). Fusebox primarily targets developed markets including the US, the UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand among others. The company has 30 employees primarily based in the UK. In March, Nazara announced that it has plans to invest $100 million towards mergers and acquisitions within the next 24 months. Since then, it has invested in Circle of Games, and acquired Kiddopia developer Paper Boat Apps. Through its subsidiaries, Nazara also acquired IP rights of Ultimate Teen Patti from Games24x7, and took over assets of Deltias Gaming. Nazara posted Rs 254.43 crore in total revenue with a profit of Rs 17.8 crore in Q1 FY25. For the fiscal year ending March 2024 (FY24), Nazara’s revenue from operations increased 4.3% to Rs 1,138 crore in FY24 from Rs 1,091 crore in FY23. The firm’s controlled cost and spike in other income helped it post a 23% growth in its profit to Rs 75 crore in FY24 from Rs 61 crore in the previous fiscal year. Earlier this year, the Nitish Mittersain-led firm raised Rs 250 crore ($30 million) from Zerodha’s co-founders-backed Kamath Associates & NKSquared, ICICI Securities, Plutus Wealth Management, and others.

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