Nazara Technologies acquires 48.42% equity stake of Paper Boat Apps Private Limited at a total consideration of INR 300 crores. Post completion of the aforesaid transaction, the Company will hold 100% stake in Paperboat.
Nazara Technologies, on Board Meeting held on July 19, make strategic investment by way of secondary acquisition of 48.82% of the equity share capital of Paper Boat Apps Private Limited, from its existing founder shareholders, Mr. Anupam Dhanuka and Ms. Anshu Dhanuka, at a total consideration not exceeding INR 300 Crores.
This acquisition aims to execute a multi-pronged strategy to drive growth and expansion of the Kiddopia franchise through IP licensing and integration. Nazara Technologies aims to global expansion, deeper synergies, and additional revenue streams including merchandising, video, and advertising revenues, in addition to the current model of subscription revenues.
After the acquisition, Paper Boat Apps Private Limited shall become a wholly-owned subsidiary of the Company and Kiddopia Inc. the wholly owned subsidiary of Paperboat shall continue to remain the step-down subsidiary of the Nazara Technologies (https://www.nazara.com/).
About Paper Boat Apps Private Limited –
Incorporated in 2013, Paperboat is an indie studio engaged in designing, developing and publishing world class edutainment apps for kids. Paperboat are the makers of Kiddopia – India’s largest subscription based edutainment app for early learners Kiddopia, offers interactive games and activities that foster cognitive development, self-expression and also social-emotional learning in early age Kids.
Paperboat has achieved consolidated turnover of Rs. 204.40 Crores in FY 2022, Rs. 220.60 Crores in FY 2023 and Rs. 219.44 Crores in FY 2024. The Company has a profit after tax of Rs. 46.45 Crores in FY 2024. Paperboat has a Cash and cash equivalents of INR 155.74 Crores as of March 2024.
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