SUMMARY
Nazara Technologies has acquired 100% stakes in the US-based gaming firm WildWorks in an all-cash deal
As a part of the deal, WildWorks’ founders–Clark Stacey and Jeff Amis will continue leading their current positions in the startup
Following the acquisition, WildWorks plans to localise its existing ‘Animal Jam’ apps for new geographies and also, develop new apps along with Nazara
Gaming and media firm Nazara Technologies has acquired 100% stakes in the US-based children-focused gaming firm WildWorks in an all-cash deal.
As a part of the deal, WildWorks’ founders–Clark Stacey and Jeff Amis will continue leading their current positions in the startup.
Following the acquisition, WildWorks plans to localise its existing ‘Animal Jam’ game for new geographies and also, develop new apps as well as build interactive experiences with the brand (Nazara).
Meanwhile, Nazara will use WildWorks’ brand presence and tech team to strengthen its position in the gaming industry.
“Joining Nazara enables a new phase of growth and international reach for WildWorks and our games. Our company goal has always been ‘Fun with Substance.’ So, of paramount importance for us, was finding a partner who shared our commitment to improving kids’ lives through play and earning the trust of parents,” said Stacey, founder and CEO of WildWorks.
Founded in 2003, WildWorks is a children-focused gaming and entertainment company. It builds mobile and desktop-based educational games including Animal Jam and Tag with Ryan for children between the age group of 8-12.
WildWorks claims to have clocked more than 150 Mn players over the past decade.
As per WildWorks, in the calendar year 2021-22, its revenue stood at $13.8 Mn and EBITDA at $3.1 Mn. While in the first half of CY22, the startup recorded a revenue of $5.8 Mn and EBITDA at $1.6 Mn.
“The 8-12 player demographic of Animal Jam builds on the success of our Kiddopia early learning product for kids 2-7. Successful brand partnerships like Tag with Ryan also showcase the potential for leveraging the WildWorks platform in new categories,” said Nitish Mittersain, founder and MD of Nazara.
Founded by Mittersain, the Mumbai-based Nazara is a gaming and media company. It operates several gaming and media platforms including the World Cricket Championship, CarromClashKiddopia, NODWIN, PublishMe, Sportskeeda, OpenPlay, Halaplay and Qunami, among others.
Nazara claims to have a presence across the globe including India, Africa and North America.
Recently, Nazara infused INR 20.10 Cr in its subsidiary Absolute Sports, which operates esports platform Sportskeeda.
Prior to that, Nazara’s subsidiary NODWIN Gaming acquired a 35% stake in gaming accessories startup Wings while its group company, Nazara Pte. Ltd infused $2.5 Mn in the gaming fund BITKRAFT Ventures.
In the June quarter of the fiscal year 2022-23, Nazara’s profit after tax (PAT) surged by 22% YoY to INR 16.5 Cr against INR 4.9 Cr PAT reported in Q4 FY22. Its operating revenue also grew by 70% to INR 223.1 Cr in Q1 FY23 as compared to INR 131.2 Cr revenue clocked in the corresponding period in the last financial year.
According to an Inc42 plus analysis, India’s esports market is likely to earn aggregate revenue of $175 Mn by 2023.
