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Below the Quote on Gaming Update : Nazara acquires majority stake in UK growth marketing agency, ``Space & Time`` by Jinesh Joshi, Research Analyst, PL Capital - Prabhudas Lilladher

Datawrkz, a subsidiary of Nazara Technologies Limited has acquired a 100% stake in Space & Time, an independent growth-marketing agency with offices across the UK. 

Business of Space & Time:  Space & Time is a leading UK-based growth-marketing agency that has been operating for over two decades. They specialize in multi-channel marketing, encompassing traditional media, social media (including biddable media, content marketing, and programmatic), and technology solutions (such as data visualization, analytics, and SEO). S&T also offers specialized training services.

Acquisition price: Aggregate consideration of GBP 4.8mn (~Rs523mn) for 100% stake, of which 68.75% to be paid in cash (amounting to GBP 3.3mn (~Rs361mn)), and 31.25% in equity shares of Datawrkz Operations UK Ltd. (amounting to GBP 1.5mn (~Rs162mn)). The cash consideration is payable in three tranches:

1. GBP 2.0 million (~Rs218mn) at the time of closing.

2. GBP 0.7 million (~Rs71mn) within 12 months from the closing.

3. GBP 0.7 million (~Rs71mn) within 24 months from the closing.

Nature of transaction: In cash (in one or more tranches) and in equity.

Brief financials: Net revenue for FY22/FY23/FY24 was Rs930mn/Rs1,070mn/Rs1,160mn, and EBITDA for FY22/FY23/FY24 was Rs140mn/Rs180mn/Rs210mn respectively. EBITDA margins for FY22/FY23/FY24 was 15.1%/16.8%/18.1% respectively.

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