Rekha Jhunjhunwala Stock Jumps 5% After Acquiring 100% Stake In PublishMe For $2 Mn

Shares of Nazara Technologies Ltd in which Rekha Jhunjhunwala has stake witnessed a rally of over 5% today after its subsidiary acquired a 100% stake in game marketing agency PublishMe for $2 million, according to its BSE filing. Last trading price of Nazara Technologies share is Rs 869.90 per share with intraday gain of 5.64%. Nazara Technologies stock surged 58% in last 6-months and rallied 25% in last 1-year. Check details below:

Nazara Technologies Acquires 100% Stake In PublishMe: As per the BSE filing issued on October 3, "The Singapore subsidiary of NODWIN Gaming - South Asia's leading gaming and esports media companies, a material subsidiary of Nazara Technologies Ltd (BSE: NAZARA), has acquired a 100% stake in game marketing agency PublishME for a sum of USD 2 mn from its existing shareholders Nazara Technologies Limited and Ozgur Ozalp."

The integration and acquisition of PublishME into NODWIN Gaming's global emerging market network are poised to enhance NODWIN Gaming's existing solutions capabilities for publishers and brands alike. This acquisition will provide the essential tailwinds for NODWIN Gaming to drive its mission of leading the emerging market sports media landscape.

Commenting on the acquisition, Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming said, "We are delighted to extend a warm welcome to PublishME as a valued addition to the NODWIN Gaming family. This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company."

Nazara CEO Nitish Mittersain commented on the transaction "We see significant synergies between Nodwin Gaming and PublishME and this transaction will enable Nodwin to get a stronger foothold into the Middle East esports market"

Nazara Technologies Stock Outlook & Return: Last trading price of Nazara Technologies stock on BSE is Rs 869.90 per share on BSE. Its 52-week high price is Rs 927.25 per share and 52-week low price is Rs 481.95 per share, respectively. The company's market capitalisation is Rs 5756.48 crore. Nazara Technologies stock witnessed a gain of 42% year-to-date, soared 58% in last 6-months, gained 24% in last 1-year, and declined 30% in last 2-years.

Nazara Technologies About: Nazara is India's only listed gaming & esports company with a number of leading gaming & e-sports brands with presence in India, US and other global markets. In e-sports, Nazara has India's leading esports platform Nodwin; PublishME in the Turkey / MENA market; and Sportskeeda and Pro Football Network in the sports media space.