Nazara has acquired a majority stake of 51% at a pre-money valuation of Rs. 154 crore. This transaction is subject to shareholders approval and customary closing conditions including any other regulatory approvals.
With presence in 64 countries, Nazara is the largest free to play kids games publisher in India with over 20 million monthly active kids playing Nazara’s games on Google Play and App store.
Paper Boat Apps Co-Founder & CEO Anupam Dhanuka commented, “This investment will help us grow our team, strengthen our market share in the US and expand to other high value markets such as Latin America, Europe and Japan. We also plan to leverage Nazara’s existing network of users to quickly grow in India, Southeast Asia and the Middle East.”