Rakesh Jhunjhunwala-backed Nazara Tech acquires majority stake in ad tech company Datawrkz
Premium- Nazara Technologies will acquire a 33% stake in Datawrkz in the first tranche by April
Gaming and sports media company Nazara Technologies on Tuesday announced that it has entered an agreement to acquire a 55% stake in programmatic advertising and monetization company Datawrkz valuing the company up to ₹225 crore linked to CY 22 EBITDA performance.
Nazara will acquire a 33% stake in the first tranche by April 22. The company 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," the company informed in an exchange filing today.
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, the company added.
Founded in 2013, Datawrkz is a global advertising technology firm focused on accelerating user and revenue growth for clients through highly optimized digital advertising with offices in the US, Singapore, and India.
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Ace investor Rakesh Jhunjhunwala holds 10.82% stake in the company as of September 2021, BSE shareholding data showed.
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