Gaming and sports media company Nazara Technologies announced that it had acquired a 55% stake in advertising technologies and monetization company Datawrkz. The transaction in Indian Rupees will cost the company Rs 225 crore (approximately $30 million) based on its EBITDA for 2022.
Nazara Technologies announced that the deal would take place in two phases. In the first phase, the company will purchase a 33% stake at Rs 60 crore, of which Rs 35 crore will be paid in part in cash, and the remaining Rs 25 crore will be paid in cash or share swap until April 2022.
Founded in 2013, Datawrkz is a global advertising technology firm focused on accelerating user and revenue growth for customers through highly optimized digital advertising. Datawrkz’s combined revenue for 2021 is reported as Rs 90.7 crore (approximately $12.1 million). About 70% of this income came from the USA.
Manish Agarwal, CEO of Nazara Technologies, said:
“We at Nazara are looking to build strong gaming ad tech offerings globally with the partnership with Datawrkz. We strongly believe that growth of gaming focused ad tech will be exponential in the coming decade across geographies with the growth of gamers and game publishers across freemium, web3.0, and skill based real money gaming.”
Nazara entered the public market in March last year as India’s first publicly traded gaming company. Shares of the company have nearly doubled since then.