For a total of Rs 300 crore, the gaming and sports media company Nazara Technologies has announced that it has acquired an extra 48.42% of Paper Boat Apps (PBA) from its promoters, Anupam and Anshu Dhanuka.
Nazara now owns 100% of Paper Boat Apps as a result. Nazara had previously purchased a 50.91% share in PBA in 2019.
Paper Boat Apps, founded by PR Rajendran, R Kalpana, and PR Jayashree, is the creator and publisher of the gamified educational app Kiddopia for kids.
Kiddopia is an application that requires a subscription and is intended for kids ages two to seven. Its revenue is primarily sourced from the US.
Nazara announced its intention to invest $100 million over the course of the next 24 months in mergers and acquisitions in March of this year.
By purchasing the remaining 28.12% from the founding shareholders PR Rajendran, R Kalpana, and PR Jayashree, Nazara was able to acquire a 100% stake in the mobile gaming subsidiary Nextwave Multimedia in May.
Among Nazara’s portfolio companies are Pro Football Network and Sportskeeda in the sports media sector, and Nodwin Gaming in the esports industry.
The Nazara-backed Nodwin Gaming had announced last month that its Singapore-based subsidiary had signed final agreements to raise its share swap deal to 100% of Berlin-based Freaks 4U in increments.
