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

livemint.com:

₹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.

Also Read: Marico share price falls over 4% on lower consolidated revenue, single digit volume growth in Q2 amid rural pain “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. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) 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.

Also Read: PNB share price falls over 3% post Q2 business update; should you buy the stock? 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.