 "Nazara Tech up 4% as arm acquires UK's growth marketing agency for Rs 52-cr")
Nazara Technologies shares gained 4.2 per cent and registered an intraday high of Rs 949.5 per share on BSE. The counter saw buying after Datawrkz, a subsidiary of Nazara Technologies, acquired 100 per cent stake in United Kingdom (UK) based growth marketing agency, Space & Time.
Around 1:47 PM, Nazara Technologies shares were up 2.49 per cent at Rs 941.7 per share. In comparison, the BSE Sensex was down 0.40 per cent at 80,047.17. The market capitalisation of the company stood at Rs 7,194.91 crore.
"Datawrkz has acquired a 100 per cent stake in Space & Time, an independent growth marketing agency with offices across the UK," the filing read.
The cost of acquisition is approximately Rs 52.3 crore in cash and stock.
This acquisition is said to enable Datawrkz’s growth across Europe and North America, positioning it as a scaled player in the global digital advertising market.
"The collaboration brings together Space & Time's expertise in growth marketing, media, and technology with Datawrkz’s strengths in programmatic advertising technology and optimisation," the filing read
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The partnership will enable both companies to deliver more impactful digital advertising solutions and drive further expansion, especially in the European and UK markets.
Additionally, Space & Time will gain access to Datawrkz’s technology and products, enhancing their ability to deliver effective campaigns and capitalize on growth opportunities in Europe and North America.
Founded in 2013, Datawrkz is a global advertising technology firm focused on accelerating user and revenue growth through highly optimised digital advertising, from strategy to execution. Datawrkz offers professionally managed as well as self-serve digital advertising solutions, in addition to specialist ad inventory and revenue optimisation solutions for publishers.
Meanwhile, Space & Time was established in 2000 and is an independent growth marketing agency. For over two decades, the agency has led the way in optimising the entire customer experience, leveraging media and technology to propel growth across diverse sectors for clients including Taylor Wimpey Plc, Caffe Nero, O2 Retail, Save The Children, and Wolf 1834.
Nazara is India’s only listed gaming and Esports Company, with majority ownership of several leading gaming and esports brands with presence in India, the US, and other global markets. Nazara controls Datawrkz, a digital ad tech company supporting its portfolio companies and external clients with demand side user acquisition and supply-side ad monetization services.
In the past one year, Nazara Technologies shares have gained 15.6 per cent against Sensex's rise of 25 per cent.