Acquisitions8 Mar 2025, 03:55 am
Nazara Technologies Sells OpenPlay to Moonshine for INR 104.33 Crore
AI Summary
Nazara Technologies Limited, India's leading gaming and sports media platform, has divested its 94.85% stake in OpenPlay Technologies Private Limited, a profitable Rummy platform, to Moonshine Technology Private Limited, the parent company of India's biggest Poker platform, PokerBaazi. The transaction, valued at INR 104.33 crore, will integrate OpenPlay's Rummy platform into Moonshine's existing Rummy offering, aiming to boost player engagement, optimize user acquisition, and enhance cost efficiencies.
Key Highlights
- Nazara sells 94.85% stake in OpenPlay to Moonshine for INR 104.33 crore
- OpenPlay maintains a profitable track record and has demonstrated resilience in a challenging market
- Moonshine aims to leverage its technological, marketing, and data-driven expertise to drive growth in India's Rummy market
- The acquisition is expected to boost player engagement, optimize user acquisition, and enhance cost efficiencies
- Nazara continues to expand its footprint in the gaming and esports market with several leading brands in India, the US, and other global markets