Nazara Applied sciences Ltd., the gaming and esports firm, has introduced the acquisition of extra 48.42% stake in Paper Boat Apps Pvt. Ltd. (PBA) from its promoters Anupam and Anshu Dhanuka for ₹300 crore to be paid in money in tranches to take its possession in PBA to 100%.
Paper Boat Apps is the developer and writer of well-liked youngsters’s digital gamified studying app ‘Kiddopia’.
“Nazara may even think about merging Paper Boat Apps into the corporate on the applicable time to carry dwelling one of many world’s hottest youngsters gamified studying IP ‘Kiddopia’. This step will enable Nazara to profit from wholesome money flows that may be reinvested for natural in addition to inorganic progress,” the corporate stated in an announcement.
In 2019, Nazara had acquired 50.91% stake in Paper Boat Apps.
Nitish Mittersain, CEO and Joint MD, Nazara Applied sciences, stated, “We consider an IP equivalent to Kiddopia has immense potential that may be unlocked via a number of new initiatives and buying full possession underscores our dedication to intensifying our efforts within the gamified studying sector.”
