Nazara Tech Acquires WildWorks to Amplify Playful Learning Segment; the stock climbs ~1.5%
Nazara Technologies Limited, an Indian diversified games and sports media company, announced the acquisition of WildWorks, a leading US interactive children’s entertainment company.
WildWorks revenues in CY21 were $13.8 million and $5.8 million in H1CY22, with EBITDA of $3.1 million in CY21 and $1.6 million in H1CY22.
WildWorks, founded in 2003, is one of the most successful and established game companies focused on the 8-12 year old market, with the #1 Grossing app in its category.
WildWorks mobile apps have attracted more than 150 million players over the past decade, and following today’s agreement, WildWorks is expected to expand into new products and regions in 2023 and beyond. .
Two of the company’s original founders, CEO Clark Stacey and COO Jeff Friends, will remain and manage the company’s next phase of growth as part of the “Friends of Nazara” network.
WildWorks’ Animal Jam game is described as an online playground for children who love animals and the natural environment. The game, which is available on iOS and Android mobile devices as well as Mac and PC computers, offers world-building and multiplayer gameplay in a tightly moderated social gaming space.
It also features a wealth of free STEAM-oriented educational content that players can access through the AJ Academy app and website.
Following the acquisition of Nazara, WildWorks intends to translate existing Animal Jam apps for other markets while developing new apps and interactive experiences with the brand.
By 10:00 a.m., Nazara Technologies was trading up 1.37% at Rs639.40, against the previous close of Rs630.75 on NSE. It reached the intraday high and low of Rs645.75 and Rs636 respectively.
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