Gaming and sports media platform Nazara Technologies has acquired 100% stake in Delaware-based kids gaming firm WildWorks Inc. This would be one of the several acquisitions in the past year by the Mumbai-based company.
Nazara Technologies entered into the agreement to acquire 100% share capital of Wildworks in an all cash deal from their existing shareholders at an aggregate amount of $10.40 million, filing with BSE shows.
WildWorks will continue to run the business with its original co-founders Clark Stacey and Jeff Amis, after the merger and acquisition as part of the “Friends of Nazara” network, the company said in filings.
Founded in 2003, WildWorks develops games focused on the children’s market. It’s available on iOS and Android mobile devices as well as on desktops.
Wildworks was originally backed by Oquirrh Ventures and Signal Peak Ventures. Unlike 2020, the revenue of the US-based company shrank by 25% to $13.8 million in 2021 from $18.8 million in 202o while EBITDA of the company was recorded at $3.1 million in CY21 where the figures stood at $4.9 million during CY20.
Earlier, Nazara had backed pre-school edutainment app Kiddopia and acquired a majority stake in video game developer Sports Unity, multi sports content platform Sportskeeda and Datawrkz.
Nazara Technologies Limited seems to be a fascinating startup with a motivating turn of events on computer games platform. My best wishes to the entire team. This will give them a huge accomplishment in the future.
Shishir Gupta, Founder and CEO, StartupLanes
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