Nazara acquires stake in Datawrkz

19 Jan,2022

By Our Staff

 

Nazara Technologies Limited has announced that it has entered an agreement to acquire a 55% stake in programmatic advertising and monetisation company Datawrkz valuing the company up to INR 225 Cr (approx. USD 30M) linked to CY 22 EBITDA performance.

 

Nazara will acquire a 33% stake (INR 60 crore payable of which INR 35 crore is partly payable in cash and the balance consideration of INR 25 crore will be paid either in cash or swap of shares) in the first tranche by April 2022. Nazara reserves an option to acquire an additional 22% in the second tranche that is expected to close in Q4 FY23.

 

Said Nazara Technologies CEO Manish Agarwal: “We, at Nazara, are looking to build strong gaming ad tech offerings globally with the partnership with Datawrkz. We strongly believe that growth of gaming focused ad tech will be exponential in the coming decade across geographies with the growth of gamers and game publishers across freemium, web3.0 and skill based real money gaming.”

 

Added Nitish Mittersain, Founder & Joint MD of Nazara Technologies: “As always, it’s a great moment for us to welcome a new friend to our ‘Friends of Nazara’ network and I believe Senthil and the entire Datawrkz team will add great value to what we are building at Nazara over the next few years.”

 

Said Datawrkz founder Senthil Govindan: “We had started this company with a vision to disrupt the digital advertising space. Datawrkz was already on a fast track to achieve our objective with rapid growth and satisfied clients around the world. Through our partnership with Nazara, I see our pace accelerating further. While Datawrkz will be able to immediately bring our natural strengths to bear within the existing Nazara fold, this also gives both sides a tremendous opportunity to build global advertising and publisher monetisation products with a sharp focus on the gaming vertical.”

 

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