UtterAI Test Widget
16+ CR GTD
MPL Poker
Click here to get the latest issue of our e-Magazine
Pokersaint
Nazara Technologies Acquires Skill Gaming Platform OpenPlay Business
Amarylisa Gonsalves
Posted on 28 Aug, 2021
By Amarylisa Gonsalves
On 28 Aug, 2021
Share
By Amarylisa Gonsalves
On 28 Aug, 2021
Share

Nazara Technologies Acquires Skill Gaming Platform OpenPlay


Nazara Technologies Limited, an India based diversified gaming and sports media platform announced today that it has acquired a 100% stake in Hyderabad based skill gaming company OpenPlay for a total consideration of ₹186.4 crore. OpenPlay operates a multi-game consumer gaming platform under the brand — Classic Games, which hosts popular skill-based games and operates the highest technology standards, game fairness, advanced player protection, security, AML and advertising standards.

OpenPlay currently has an annualised gross gaming revenue run-rate of ₹80 crore and operates on EBIDTA positive margins. With its recent launch of influencers-hosted skill gaming tournaments, the company is poised to grow its user base at a rapid pace in the coming quarters. Nazara CEO Manish Agarwal said, “The OpenPlay acquisition offers an opportunity for Nazara to build a network of skill gaming destinations operating on one common tech platform under the proven leadership of Sreeram and his team at OpenPlay. Sreeram is a successful entrepreneur globally in online real money gaming, and we are excited that he will be leading Nazara’s growth in this sector.”

ALSO READ: Nazara Technologies Goes Public Today With INR 583 Crore IPO

OpenPlay is led by Sreeram Reddy Vanga, who is a serial entrepreneur in the global online gaming industry. In his previous avatar, he founded and led CozyGames to become the second-largest Bingo network in the United Kingdom before being acquired. Sreeram was also a part of the early team at PartyGaming, which went public on the London Stock Exchange in 2005.

Sreeram Reddy Vanga says, “I’m excited to join the ‘Friends of Nazara Network’ and look forward to working closely with Nazara leadership and the network to build India’s largest vernacular social gaming and entertainment platform. Our technology complemented by Nazara’s positioning in the gaming industry in India is the perfect combination for this endeavour.” 

ALSO READ: Nazara Technologies IPO Second Most Subscribed Issue In 2021: Report

The ‘Friends of Nazara’ network comprises established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in esports; Next Wave Multimedia, developer of World Cricket Championship (WCC), which is the largest mobile-based cricket simulation game and Paper Boat Apps, developers of popular gamified early learning app Kiddopia.

About Nazara Technologies:

Nazara is an India based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across interactive gaming, esports and gamified early learning ecosystems. The company owns some of the most recognisable IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

 About OpenPlay:

OpenPlay is one of India’s fastest growing Skill Gaming companies offering Fantasy Sports, Quiz, Rummy and various other skill games. It operates a platform offering multiple games to gamers and influencers, enabling the latter to host tournaments for gamers.

For more news and updates, keep reading GutshotMagazine.com. Follow us on FacebookInstagramTwitter, and Telegram.



More News

Gaming
18 Jun,2021 

Nazara Technologies Acquires Gaming Platform Pu...

Nazara Technologies puts Esports in top gear; Plans to tumble Dream11 & Jio 
Esports
2 Aug,2021 

Nazara Technologies Puts Esports In Top Gear; P...

Gutshot Magazine’s August 2021 E-mag Out On A Tournament Watch
Poker
25 Aug,2021 

Gutshot Magazine’s August 2021 E-mag Out On A T...


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Dangal

Top 10 Poker Rooms

PokerSaint box banner

SUBMIT YOUR ARTICLE


    • Accept .doc, .docx, .pdf, .txt files only. and Max file size 20MB.

    Natural8 India Exclusive Freerolls

    SUBMIT YOUR ARTICLE


      • Accept .doc, .docx, .pdf, .txt files only. and Max file size 20MB.

      Natural8 India Exclusive Freerolls