Nazara Technologies today announced that it has entered an agreement to acquire a 55% stake in programmatic advertising and monetization company Datawrkz valuing the company up to Rs 225 crore (approx. USD 30M) linked to CY 22 EBITDA performance.
Nazara will acquire a 33% stake (Rs 60 crore payable of which Rs 35 crore is partly payable in cash and the balance consideration of Rs 25 crores will be paid either in cash or swap of shares) in the first tranche by April 22.
Nazara reserves an option to acquire an additional 22% in the second tranche that is expected to close in Q4 FY23.
Datawrkz tech offerings will enhance in-house capabilities of Nazara for optimizing its customer acquisition spends as well as enhance yields on ad monetization of its large consumer base. This ad revenue monetization is expected to assist many of the companies in the 'Friends of Nazara' network.
Further, there is an increasing symbiotic relationship between gaming companies and ad tech companies worldwide as a combination of the two will be value accretive for both businesses. With this transaction, Datawrkz aimsto establish itself as a key player in gaming, covering both demand and supply side offerings for the gaming ecosystem in the US and India.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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