Nazara Technologies, a gaming and sports media platform, has announced that it will merge Paper Boat Apps with Nazara Technologies. Nazara bought a 50.91% stake in PaperBoat Apps in 2019 and bought the rest of the stake from its promoters Anupam and Anshu Dhanuka for ₹300 crores.
The acquisition will integrate Kiddopia into the Nazara ecosystem, paving the way for operational synergies and global growth opportunities.
Nitish Mittersain, Founder and Managing Director of Nazara Technologies, said, “The merger of Paperboat Apps with Nazara is a pivotal step in our mission to lead the gamified early learning space with Kiddopia having already made a substantial impact in this sector worldwide. Further, this step is aligned towards us bringing core gaming business into the parent entity to provide for fungible cash flows that can subsequently be deployed for organic and inorganic growth going forward.”
In H1 FY25, Nazara reported revenues of ₹569.0 crores, an EBITDA of ₹50.1 crores, and PAT from continued operations of ₹41.7 crores. The focus remains on driving profitable growth through both organic initiatives and strategic M&A, with a strong emphasis on the core gaming sector. In Q2 FY25, the company successfully raised ₹900 crores via a preferential equity issue from a group of marquee investors as well as made a significant investment in leading skill-based gaming platform Pokerbaazi, in addition to increasing its stake in Absolute Sports (Sportskeeda) and acquiring a minority stake in fast-growing esports community Stan.
