Nazara Technologies has acquired additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore to be paid in cash in tranches to take its ownership in PBA to 100%.
Paper Boat Apps is the developer and publisher of popular children’s digital gamified learning app ‘Kiddopia’ which is the top 3 grossing app for children between 2-8 years of age in the United States of America. Nazara will also consider merging Paper Boat Apps into the company at the appropriate time to bring home one of the world’s most popular kids gamified learning IP ‘Kiddopia’. This step will allow Nazara to benefit from healthy cash flows that can be reinvested for organic as well as inorganic growth.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
