Recent reports have suggested that Nazara reports are planning to take over the entertainment-based company, called WildWorks. For those who don’t know anything about Nazara, it is an Indian-based gaming platform. It is known for you being one of the first companies to enter Esports and make it big in the Indian market. Go through the entire article to learn more about this news.
Acquisition of Wildworks
As per the reports, Nazara will buy the company via cash. It is buying the company for approximately $10.40 million. It is taking over the entire company alongside its intellectual assets. WildWorks is a game studio that is extremely popular among children between the age group of 8-12. In the past 10 years, WildWorks has shown excellent performance by being able to engage approximately 150 million players. The company will expand in the coming years which is all thanks to this deal. Clark Stacy and Jeff Amis get to retain their position of CEO and CEO respectively. They will play a role in the future growth of the company as part of the ‘Friends of Nazara’ network.
Statements given by Nazara and Wildworks
“With its strong brand presence and talented Utah-based development team, WildWorks enables us to solidify our leadership position in the gamified learning space for kids,” says Nitish Mittersain, founder and managing director of Nazara Technologies. “The 8-12 player demographic of Animal Jam builds on the success of our Kiddopia early learning product for kids 2-7, extending our reach with families while maintaining our focus on high-quality educational content. Successful brand partnerships like Tag with Ryan also showcase the potential for leveraging the WildWorks platform in new categories.” “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. We immediately resonated with the Nazara team and respect the commitment they’ve already made to kids through Paper Boat Apps and Kiddopia,” says WildWorks CEO Stacey. With the ubiquity of connected mobile devices among kids, parents are recognizing that the quality of a child’s screen time is as vital to monitor as the quantity,” Mittersain observed. “WildWorks has earned the trust of millions of families through their approach to safe social gameplay in Animal Jam, and Nazara’s global capabilities will help bring those experiences to millions more.”