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OneVerse acquires e-gaming companies Calling Station and BatBall11

EntrackrEntrackr · 1y ago
OneVerse acquires e-gaming companies Calling Station and BatBall11
Medial

Metaverse and gaming technology platform OneVerse has acquired two companies: Calling Station, and BatBall11. The acquisitions will help OneVerse to solidify its position in the gaming market, as per the company. Calling Station develops online games and delivers superior experience with safety and security while BatBall11 is a rewards-based fantasy sports platform for multiple sports which enables users to make virtual teams to win prizes. The Bengaluru-based company is looking to acquire more companies in the next three months as a part of a larger strategy announced earlier, it said in a press release. In February, OneVerse acquired online poker platform Spartan Poker as part of its plan to acquire 13 companies. It also announced a $120 million worth fund which will be used to acquire eight companies. Founded by Prashant Joshua, OneVerse is a MetaVerse platform which is dedicated to enable an immersive experience for gamers. It aims to continue to redefine industry standards and shape the future of gaming. The company plans to invest an additional Rs 250 Crore across its portfolio of investments

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OneVerse acquires e-gaming companies Calling Station and BatBatt11

EntrackrEntrackr · 1y ago
OneVerse acquires e-gaming companies Calling Station and BatBatt11
Medial

Metaverse and gaming technology platform OneVerse has acquired two companies: Calling Station, and BatBall11. The acquisitions will help OneVerse to solidify its position in the gaming market, as per the company. Calling Station develops online games and delivers superior experience with safety and security while BatBall11 is a rewards-based fantasy sports platform for multiple sports which enables users to make virtual teams to win prizes. The Bengaluru-based company is looking to acquire more companies in the next three months as a part of a larger strategy announced earlier, it said in a press release. In February, OneVerse acquired online poker platform Spartan Poker as part of its plan to acquire 13 companies. It also announced a $120 million worth fund which will be used to acquire eight companies. Founded by Paul Michael, OneVerse is a MetaVerse platform which is dedicated to enable an immersive experience for gamers. It aims to continue to redefine industry standards and shape the future of gaming. The company plans to invest an additional Rs 250 Crore across its portfolio of investments

OneVerse acquires Spartan Poker for undisclosed amount

EntrackrEntrackr · 1y ago
OneVerse acquires Spartan Poker for undisclosed amount
Medial

MetaVerse and gaming tech company OneVerse has acquired online poker platform, Spartan Poker, for an undisclosed amount. This is a continuation of OneVerse’s M&A strategy looking to consolidate the gaming market, OneVerse said in a press release. It added that the recent macroeconomic headwinds have unlocked momentum for M&A opportunities, and the company is looking to close a few additional acquisitions in the next three months for $120 million. Spartan Poker’s founder and CEO Amin Rozani said, “…This acquisition opens up new horizons for creativity and technological advancements, and we look forward to creating extraordinary customer gaming experiences together.” The development comes six months after Spartan Poker fired 40% of its workforce or 125 employees due to the government’s 28% GST on real-money gaming companies. With over 2 million registered users, Spartan is one of the largest online platforms for poker in India. It has also not raised venture capital to date. Spartan claims that it clocked a revenue of Rs 200 crore but its consolidated financial statements with the RoC showed that it made Rs 95 crore in FY23 while its losses stood at Rs 6.21 crore in the same period. The consolidation appears to be driven by the 28% GST rule introduced by the Indian government effective from October last year. Since then, a clutch of startups including Fantok, One World Nation (OWN), and Quizy shut their operations while MPL, and Hike Rush Gaming have fired more than 400 employees, cumulatively. Dream11, the largest player in the space, was also impacted heavily by the GST crackdown. The firm had shut down its investment arm Dream Capital and projected an 80% fall in its profits in the ongoing fiscal.

Nazara acquires 15.86% stake in e-sports startup Stan for $2.2 Mn

EntrackrEntrackr · 10m 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 · 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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