Acquisitions30 Oct 2024, 06:55 pm
Nazara Technologies' Subsidiary to Acquire Space & Time Media for INR 52.3 Crores
AI Summary
Nazara Technologies Ltd. announced that its subsidiary, Datawrkz Operations UK Ltd, will acquire 100% stake in Space & Time Media Limited for an equity value of GBP 4.8 million (~INR 52.3 crores). The acquisition will be funded through Nazara UK’s debt-based financing. Upon completion, Space & Time Media will become a wholly owned subsidiary of Datawrkz Operations UK Ltd and a step-down subsidiary of Nazara Technologies Ltd.
Key Highlights
- Nazara Technologies' subsidiary, Datawrkz Operations UK Ltd, to acquire 100% stake in Space & Time Media Limited
- Acquisition to be funded through Nazara UK’s debt-based financing
- Space & Time Media to become a wholly owned subsidiary of Datawrkz Operations UK Ltd
- Transaction value is GBP 4.8 million (~INR 52.3 crores)
- Acquisition to be completed subject to fulfilment of certain conditions precedent and other terms and conditions