Mobile gaming firm Nazara Technologies acquires stake in Paper Boat Apps

This is the fifth acquisition by Westbridge Capital-backed firm

Mobile gaming firm Nazara Technologies has acquired a majority stake in Paper Boat Apps Pvt. Ltd, a Mumbai-based edutainment studio. Nazara has made a series of acquisitions across the globe.

In a statement, Nazara said it had acquired a 51 per cent stake in children-focused Paper Boat through an investment of Rs 83.5 crore ($11.66 million at current exchange rate). The pre-money valuation of the startup stood at Rs 154 crore, Nazara said in its statement.

Paper Boat develops and offers Kiddopia, a subscription-based edutainment app that offers several interactive games and activities that help in a child’s cognitive development,