Hot Pursuit     05-Oct-23
Nazara Tech spurts after subsidiary acquires PublishME for $2 mln
Nazara Technologies jumped 5.17% to Rs 866 after the Singapore subsidiary of NODWIN Gaming, a material subsidiary of the company, has acquired a 100% stake in game marketing agency PublishME for a sum of $2 million.

PublishME is a gaming marketing agency with offices in Turkey and UAE. It excels in crafting engaging and effective communications to connect brands with gamers. It offers Game Launch plans, social media management, sponsorship, and activations to its partners.

In a regulatory filing, the company said, “The Singapore subsidiary of NODWIN Gaming — South Asia's leading gaming and esports media companies, a material subsidiary of Nazara Technologies), has acquired a 100% stake in game marketing agency PublishME for a sum of $2 million from its existing shareholders Nazara Technologies and Ozgur Ozalp.”

The integration and acquisition of PublishME into NODWIN Gaming's global emerging market network are poised to enhance NODWIN Gaming's existing solutions capabilities for publishers and brands alike. This acquisition will provide the essential tailwinds for NODWIN Gaming to drive its mission of leading the emerging market sports media landscape, Nazara Tech stated.

Akshat Rathee, co-founder and managing director, NODWIN Gaming said, “This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company. As NODWIN Gaming continues to expand its presence across the globe, with particular emphasis on pivotal emerging markets the new BRICS global network. The inclusion of PublishME stands as a natural and integral progression to allow us to help Publishers and Brands understand and access this emerging market.”

Nitish Mittersain CEO of Nazara said,“We see significant synergies between Nodwin Gaming and PublishME and this transaction will enable Nodwin to get a stronger foothold into the Middle East esports market.”

PublishME will also rename itself to NODWIN Gaming in the Middle East but retain the PublishME name in its original market in Turkey. PublishME founder Ozgur Ozalp will also transition over to NODWIN Gaming as the CEO of NODWIN Gaming Dubai, the company stated in the press release.

Nazara Technologies is a diversified gaming & sports media platform with presence in India and across emerging & developed global markets such as Africa and North America. It has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket

The company's consolidated net profit jumped 69.6% to Rs 19.50 crore in Q1 FY24 on 14% increase in net sales to Rs 223.10 crore posted in corresponding quarter last year.

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