Nazara acquires 100% stake in Paper Boat Apps – Trade Information

Nazara Applied sciences introduced on Friday the acquisition of the remaining 48.42% stake in Paper Boat Apps (PBA) for Rs 300 crore, securing 100% possession of the developer behind the kids’s studying app ‘Kiddopia’.The transaction with promoters Anupam Dhanuka and Anshu Dhanuka can be accomplished via an all-cash deal paid in a number of installments. Following the transaction, Nazara will personal 100% of PBA, making it a wholly-owned subsidiary.

Nazara can also be contemplating merging PBA into the corporate to combine Kiddopia’s mental property (IP).Since Nazara’s preliminary 50.91% stake acquisition in 2019, Kiddopia has skilled important development.

In FY24, Paper Boat Apps reported consolidated income of Rs 219.4 crore and Ebitda of Rs 56.1 crore, with a internet money steadiness of Rs 155.74 crore as of March 2024.Nazara plans to increase the Kiddopia franchise via IP licensing, world market enlargement, and exploring further income streams reminiscent of merchandising and promoting.”Buying full possession underscores our dedication to intensifying efforts within the gamified studying sector,” stated Nitish Mittersain, CEO of Nazara Applied sciences.

“We imagine that Kiddopia has important potential for future development, and Nazara is well-positioned to raise it to the subsequent degree,” stated Anupam Dhanuka, promoter of Paper Boat Apps. Nazara Applied sciences, India’s solely listed gaming and esports firm, owns a number of gaming manufacturers throughout India, the US, and different world markets. Its portfolio consists of esports platform NODWIN Gaming, sports activities media retailers Sportskeeda and Professional Soccer Community, and different gaming properties in varied segments.