Nazara Tech acquires US-based WildWorks for Rs 82 cr in all-cash deal

Gaming and sports media firm Nazara Technologies has acquired US-based WildWorks for USD 10.4 million (about Rs 82 crore) in an all-cash deal, the company said on Tuesday.

Nazara Technologies founder and managing director Nitish Mittersain said that the company has acquired WildWorks to strengthen its gaming learning vertical where it has already been running the early learning platform Kiddopia for kids aged between 2-7 years.

"This acquisition brings Apple Jam IP of WildWorks which is a gamified learning platform for children in the age of 8-12 years. It is an adjacent segment for our learning vertical. We have acquired WildWorks for USD 10.4 million and we can now help them in scaling up their operations," Mittersain said.

He said that WildWorks has a team of 30 people that will continue to operate independently.

Nazara acquired Kiddopia around three years ago.

"When we acquired Kiddopia it had revenue of around Rs 30 crore. In three years we have scaled it up to Rs 200 crore. We expect the same momentum with Apple Jam. The current revenue of WildWorks is Rs 90 crore and they are a profitable venture," Mittersain said.