Nazara Technologies Ltd. (BSE: 543280) (NSE: NAZARA), a Mumbai, India-based diversified gaming and sports media company, acquired U.S. children’s interactive entertainment company WildWorks.
Nazara will acquire 100% of the company and its IP from existing shareholders in an all-cash transaction. WildWorks generated $13.8 million in revenue during the calendar year of 2021 and $5.8 million during the first half of this calendar year. The company’s EBITDA totaled $3.1 million during the calendar year of 2021 and $1.6 million during the first half of this calendar year.
Founded in 2003, WildWorks is an established game studio focused on the children’s market for ages 8 to 12. Its Animal Jam game is an online playground for kids who love animals and the natural world. Available on iOS and Android mobile devices in addition to Mac and PC computers, the game features world building and multiplayer games in a closely moderated social play space and offers a wealth of free STEA M-oriented educational content that players can access in the app and through the AJ Academy website. Following the Nazara acquisition, WildWorks plans to localize the existing Animal Jam apps for new territories and develop new apps and interactive experiences with the brand. As a result of the deal, the company is expected to continue its expansion with new products and geographic markets in 2023 and beyond. Two of the original founders, CEO Clark Stacey and COO Jeff Amis, will remain with the company in their current positions and lead its next phase of growth as part of the “Friends of Nazara” network. WildWorks was backed by Oquirrh Ventures and Signal Peak Ventures.
Led by Nitish Mittersain, founder and managing director, 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, and has offerings across the interactive gaming, eSports, ad-tech and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin, PublishMe and Sportskeeda in eSports and eSports media, OpenPlay, Halaplay and Qunami in skill-based, fantasy and trivia games, and Datawrkz in digital ad-tech.
FinSMEs
31/08/2022