Nazara Technologies Completes Acquisition of Paper Boat Apps

Gaming and sports media conglomerate, Nazara Technologies, has solidified its dominance in the digital education sector by acquiring the remaining 48.42% stake in Paper Boat Apps (PBA). This strategic move, executed through a substantial investment of Rs 300 crore, grants Nazara complete ownership of PBA.

Consolidation of Holdings

The acquisition marks a significant milestone for Nazara, as the company previously held a 50.91% stake in PBA, acquired in 2019. The amalgamation of the remaining shares under Nazara’s umbrella underscores the company’s commitment to expanding its footprint in the children’s learning app market.

Focus on Educational Gaming

Founded by a trio of entrepreneurs, Paper Boat Apps has garnered recognition as the creator and distributor of the popular children’s digital learning platform, Kiddopia. This subscription-based application caters to the cognitive development of children aged two to seven and has established a substantial user base, primarily in the United States.

Strategic Expansion Plans

Nazara’s acquisition of PBA aligns with its broader strategy of investing in promising ventures. The company had previously outlined an ambitious plan to allocate $100 million towards mergers and acquisitions within a two-year timeframe. This acquisition is a testament to Nazara’s commitment to realizing this objective.

Diversified Portfolio

Nazara boasts a diverse portfolio of companies operating across various segments of the gaming and sports media landscape. Nodwin Gaming, a subsidiary of Nazara, has made significant strides in the esports domain. Additionally, the company’s investments in Sportskeeda and Pro Football Network have solidified its position in the sports media industry.

Continued Expansion

Nazara’s acquisition spree extends beyond Paper Boat Apps. In a recent development, the company acquired 100% ownership of its mobile gaming subsidiary, Nextwave Multimedia, by purchasing the remaining shares from its founders.

Furthermore, Nazara-backed Nodwin Gaming has demonstrated its global ambitions by signing definitive agreements to acquire a 100% stake in Berlin-based Freaks 4U through a strategic share swap deal.

These strategic maneuvers underscore Nazara’s position as a dominant force in the gaming and digital media industry, with a clear focus on driving growth and innovation across multiple sectors.