Nazara Technologies gains as its step down subsidiary inks pacts to acquire 100% stake in Ninja Global FZCO
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Nazara Technologies is currently trading at Rs. 852.25, up by 8.25 points or 0.98% from its previous closing of Rs. 844.00 on the BSE.
The scrip opened at Rs. 846.15 and has touched a high and low of Rs. 855.00 and Rs. 844.70 respectively. So far 1160 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 989.55 on 15-Jan-2024 and a 52 week low of Rs. 481.95 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 883.10 and Rs. 834.90 respectively. The current market cap of the company is Rs. 6245.87 crore.
The promoters holding in the company stood at 17.16%, while Institutions and Non-Institutions held 26.36% and 56.48% respectively.
Nazara Technologies’ material subsidiary -- Nodwin Gaming’s fully-owned subsidiary -- NODWIN Gaming International (NODWIN), has signed definitive agreements to acquire 100% ownership in Ninja Global FZCO (Ninja). Ninja has assets in esports and gaming production assets in Turkey and the Middle East.
The acquisition of Ninja into NODWIN Gaming's global emerging market delivery network is poised to enhance the company's existing capabilities to offer solutions to publishers and brands in the Middle East and the Turkey region. This acquisition, which comes on the heels of acquisition of Games Marketing Services company PublishMe in October, solidifies its presence in the rapidly expanding Middle East and Turkish markets.
With this acquisition Nodwin Gaming has added key multi-language skills making Nodwin Gaming as a cost competitive global delivery and production platform for gaming & esports, capable of delivering world-class experiences across Asia, Middle-East, Turkey, Central Asia, Europe & USA. This acquisition also readies Nodwin Gaming to expand to Central Asia, where the mobile games market is experiencing rapid growth, across multiplayer and strategy games, driven by tech-savvy youth population.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
