Nazara Tech is on buying spree and inorganically increasing its gaming portfolio - 07.11.2019
07 Nov, 2019
07 Nov, 2019
(i) Nazara Technologies Ltd a leading global interactive gaming and digital sports media company has signed an Investment Agreement with Paper Boat Apps and its promoters on 11th October 2019 for investment up to Rs. 83.5 Crores in Paper Boat Apps, a Mumbai based indie studio.
(ii) The company intends to acquire a majority stake of 51% at a pre-money valuation of Rs. 154 Crores. The said acquisition is subject to the approval of shareholders at the General meeting of the Company. Paper Boat Apps is the creator and publisher of Kiddopia, an award-winning, subscription-based preschool edutainment app. The aforesaid acquisition is a part of a series of strategic investments made by the Company in various gaming Companies in order to expand the business inorganically and create value for the investors.
(iii) Further, the company believes that Kiddopia will address the concern where young children are found to consume digital content through their parent’s devices. Kiddopia offers a positive alternative while bringing high-quality, curated educational content packaged within an entertaining framework that keeps both kids healthy, and parents happy. Kiddopia will be leveraged to over 100 million users through the Nazara network.
Kiddopia Company Information Kiddopia offers a wide array of interactive games and activities that foster cognitive development, self-expression and also social-emotional learning. Till date, the app has been downloaded by more than 2.5 million parents around the world and has over 100,000 active subscribers. The break-even period is 7 months for a customer.
(iv) The company has grown 5x in the last 2 years and received immense recognition, awards and fame. Kiddopia has been awarded the Tilly-Wig Brain Child Award, Parents Choice Award, the National Parenting Product Award and many more. Kiddopia is completely ad-free and adheres to the highest standards of privacy and kid’s safety.
Nazara Tech Financials for FY18-19
As per data compiled by the UnlistedZone team from MCA, the Nazara Tech has not yet filed Annual Returns and Financial reports for FY18-19. The same is expected to be done this month as the date of filing of MGT-7 and AOC-4 has been extended till 30.11.2019. The financials once updated, will be presented on our website for further analysis.
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