Industry

Nazara to acquire majority stake in Datawrkz

Nazara Technologies Ltd, a diversified gaming and sports media company said it has entered an agreement to acquire a 55% stake in programmatic advertising and monetisation company Datawrkz valuing the company up to ₹225 crore linked to calendar year 22 EBITDA performance.

It will acquire a 33% stake (₹60 crore payable of which ₹35 crore is partly payable in cash and the balance consideration of ₹25 crore will be paid either in cash or swap of shares) in the first tranche by April 2022.

It also reserves an option to acquire an additional 22% in the second tranche that is expected to close in Q4 FY23, it said in a statement.Datawrkz is a global advertising technology firm focused on accelerating user and revenue growth for clients through optimised digital advertising.

“With offices in the US, Singapore, and India, the firm functions as an “Independent Trading Desk” to power digital media strategy, planning and execution,” the statement said.For the calendar year 2021, it posted a combined revenue of ₹90.7 crore and EBIDTA margin of 12%.


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Printable version | May 16, 2022 2:50:35 pm | https://www.thehindu.com/business/Industry/nazara-to-acquire-majority-stake-in-datawrkz/article38290579.ece