Nazara Technologies, a leading player in the gaming industry, has finalized the acquisition of the casual freemium card game “Ultimate Teen Patti” through its subsidiary Nextwave Multimedia.
The completion of this acquisition was confirmed by a recent filing with the stock exchanges, marking the end of a transaction first announced in April 2024.
In the final phase of the deal, Nazara Technologies has paid INR 1 crore, concluding the total payment of INR 10 crore agreed upon for the intellectual property (IP) rights, software, and associated trademarks of Ultimate Teen Patti.
This payment, inclusive of taxes, has been made in cash as per the finalized agreement with U Games Private Limited.
The acquisition comes as part of Nazara’s broader strategy to expand its portfolio in the casual gaming sector.
“UTP – Ultimate Teen Patti,” a popular free-to-play card game, was launched in early 2015 and has generated a gross turnover of INR 7 crore for the financial year 2022-23.
This move follows Nazara’s earlier decision to increase its stake in Nextwave Multimedia.
In January 2018, Nazara first acquired a majority stake in Nextwave, and in May 2023, it further increased its shareholding to 71.88%. Earlier this year, Nazara completed the acquisition of the remaining 28.12% stake in Nextwave for INR 21.6 crore.
The acquisition of “UTP – Ultimate Teen Patti” aligns with Nazara’s recent expansion activities.
Earlier this month, the company acquired an additional 48.42% stake in Paper Boat Apps for INR 300 crore, bringing its total ownership to 100%.
In June 2024, Nazara-backed NODWIN Gaming’s Singapore-based subsidiary also secured a 43.49% stake in Freaks 4U Gaming GmbH for approximately INR 212.9 crore. Additionally, Nazara acquired Ninja Global FZCO in a cash and stock deal valued at $3.57 million.
With the completion of the UTP acquisition, Nazara Technologies continues to fortify its position in the gaming industry, aiming for long-term growth and diversification of its gaming portfolio.
About Nazara Technologies
Nazara Technologies is India’s only listed gaming and esports company, with major stakes in leading brands across India, the US, and global markets.
In esports, Nazara owns NODWIN Gaming and sports media platforms Sportskeeda and Pro Football Network.
Its interactive gaming offerings include Kiddopia and Animal Jam for early learning, the popular World Cricket Championship (WCC) franchise, and a variety of casual games distributed through telco partnerships in emerging markets.
