Acquisitions15 Nov 2024, 02:40 am
Nazara Technologies Approves Merger of Wholly Owned Subsidiary, Paperboat Apps, with H1 FY25 Financials
AI Summary
Nazara Technologies Limited, a leading diversified gaming and sports media platform, has announced that its Board of Directors has approved the merger of Paperboat Apps Pvt. Ltd. with Nazara Technologies Limited. This move will allow a deeper integration of Kiddopia into the Nazara ecosystem, paving the way for operational synergies and global growth opportunities. In H1 FY25, Nazara reported revenues of INR 569.0 crores, an EBITDA of INR 50.1 crores, and PAT from continued operations of INR 41.7 crores. The company aims to drive profitable growth through both organic initiatives and strategic M&A, with a strong emphasis on the core gaming sector.
Key Highlights
- Nazara Technologies Limited approves merger of its wholly owned subsidiary, Paperboat Apps Pvt. Ltd.
- Merger aimed at deeper integration of Kiddopia into the Nazara ecosystem for operational synergies and global growth opportunities.
- H1 FY25 financials with revenues of INR 569.0 crores, EBITDA of INR 50.1 crores, and PAT from continued operations of INR 41.7 crores.
- Focus on driving profitable growth through organic initiatives and strategic M&A in the core gaming sector.
- Nazara Technologies recently raised INR 900 crores and made significant investments in Pokerbaazi, Sportskeeda, and Stan.