Nazara Technologies Subsidiary Acquires Game Marketing Agency, Shares Surge

Nazara Technologies Subsidiary Acquires Game Marketing Agency, Shares Surge image/Mint

VoM News Desk | October 5, 2023 | 12:37 PM IST | Breaking News | Follow on Google News

Nazara Technologies Subsidiary Acquires Game Marketing Agency, Shares Surge

Nazara Technologies Subsidiary Acquires Game Marketing Agency, Shares Surge

Nazara Technologies Share Price Soars 6.76%

On Thursday, Nazara Technologies saw its share price surge by over 6%, reaching ₹879.15 per share on the BSE. The rally was ignited by the announcement that the company’s subsidiary, NODWIN Gaming in Singapore, had successfully acquired a 100% stake in the game marketing agency, PublishME, for a sum of $2 million. The acquisition was made from existing shareholders Nazara Technologies and Ozgur Ozalp.

Strategic Acquisition for Fresh Opportunities

Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, expressed enthusiasm about the acquisition, stating, “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.”

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Strengthening Presence in the Middle East

The transaction is expected to strengthen NODWIN Gaming’s presence in the Middle East esports market, according to Nazara CEO Nitish Mittersain. As part of the deal, PublishME will rebrand itself as NODWIN Gaming in the Middle East while retaining the PublishME name in its original market in Turkey. Furthermore, Ozgur Ozalp, the founder of PublishME, will transition to NODWIN Gaming as the CEO of NODWIN Gaming Dubai.

About PublishME

PublishME is a gaming marketing agency with offices in Turkey and the UAE. It specializes in creating engaging and effective communications to connect brands with gamers. Its services include Game Launch plans, social media management, sponsorship, and activations for its partners.

Impressive Performance of Nazara Technologies

Nazara Technologies’ share price has demonstrated significant growth in recent months, with a rise of more than 19% in the last three months and an impressive 50% rally year-to-date (YTD). As of 10:30 am, Nazara Technologies shares were trading at ₹864.10 apiece on the BSE, reflecting a 4.94% increase.

This acquisition represents a strategic move by Nazara Technologies and NODWIN Gaming to expand their presence and capabilities in the gaming and esports industry, tapping into new markets and opportunities.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.