SUMMARY
Nazara Tech pegged the value of the deal at $1.3 Mn, with the entire consideration of the deal being paid in cash
Branded was launched in 2001 and has multiple IPs across verticals, while also partnering with brands, media and organisations
Nazara Tech added that many of the IPs owned by Branded had a direct synergy with NODWIN
Listed gaming giant Nazara’s wholly-owned subsidiary of NODWIN Gaming has acquired a 51% stake in Singapore-based mediatech startup Branded.
In an exchange filing, Nazara Tech pegged the value of the deal at $1.3 Mn, with the entire consideration of the deal being paid in cash.
Launched in 2001 as Double D Media in Hong Kong by Jasper Donat and Michael Denmark, Branded is also a gaming and sports entertainment startup, which aligns with NODWIN’s business vertical. The startup partners with organisations to create, produce, and commercialise integrated online and offline multimedia platforms that connect, engage, inform and entertain consumers.
The company has multiple platforms, including All That Matters, the Music Matters Live festival, and It’s A Girl Thing. Branded is also the producer of SuperGamerFest, a co-creator of the YouTube FanFest and partners with brands, media and organisations.
“The acquisition is proposed by way of a combination of both primary infusion in Shares and secondary purchase of Shares from the existing shareholder of Branded Pte. Ltd., which in aggregate represent up to 51% of the share capital of Branded Pte Ltd,” said Nazara.
Branded had a turnover of SGD 755,644 (about $569,837) in 2022, according to Nazara Tech’s filings with the stock exchanges. In the filings, Nazara explained the rationale for buying the majority stake in the Singapore-based startup.
“Branded also owns and executes a few women-centric IPs, such as It’s a Girl Thing and produces She Loves Tech in Singapore. These IPs will help broaden the base for NODWIN across gender and geographies to make gaming and esports more inclusive,” said the Nitish Mittersain-led company. Nazara Tech added that many of the IPs owned by Branded had a direct synergy with NODWIN.
Nazara has been fairly active in the acquisition game of late, with Nazara-owned Sportskeeda picking up a 73.27% stake in Pro Football Network LLC for $1.82 Mn (about INR 16 Cr) in an all-cash deal last month. Last year, Nazara and its subsidiaries picked up stakes in Wings (35%), Datawrkz (majority stake) and WildWorks (100%).
The development also comes after a significant rejig at Nazara, which saw the founder Mittersain retake the reins in December 2022, following the departure of Manish Agarwal a month before that.
The gaming major posted INR 314.8 Cr in revenue from operations in Q3 FY23, as its profit increased 31% year-on-year to INR 22.4 Cr during the said quarter.
