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Nazara Technologies share price jumps over 6% as subsidiary NODWIN acquires game marketing agency PublishME

Nazara Technologies share price jumped over 6% on Thursday after the company’s subsidiary acquired 100% stake in a game marketing agency. Nazara Technologies shares rallied as much as 6.76% to 879.15 apiece on the BSE.

The company said its Singapore subsidiary of NODWIN Gaming acquired a 100% stake in game marketing agency PublishME for a sum of $2 million from its existing shareholders Nazara Technologies and Ozgur Ozalp. 

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“This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company,” said Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming.

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The transaction will enable Nodwin to get a stronger foothold into the Middle East esports market, Nazara CEO Nitish Mittersain said.

PublishME will also rename itself to NODWIN Gaming in the Middle East but retain the PublishME name in its original market in Turkey. PublishME founder Ozgur Ozalp will also transition over to NODWIN Gaming as the CEO of NODWIN Gaming Dubai, the company said in a regulatory filing.

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PublishME is a gaming marketing agency with offices in Turkey and UAE. It excels in crafting engaging and effective communications to connect brands with gamers. It offers Game Launch plans, social media management, sponsorship, and activations to its partners. 

Nazara Technologies share price has risen more than 19% in the last three months, while the stock has rallied 50% year-to-date (YTD).

At 10:30 am, Nazara Technologies shares were trading 4.94% higher at 864.10 apiece on the BSE.

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Updated: 05 Oct 2023, 10:32 AM IST

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