Nazara Technologies was locked in an upper circuit of 5% at Rs 2,446.30 after its material subsidiary, NODWIN Gaming acquired 10% stake in the digital content IP media network, Rusk Media.
NODWIN Gaming has been expanding to augment its hold in the Indian esports ecosystem since March 2021. Recently, NODWIN Gaming acquired the gaming and adjacent IP businesses of OML Entertainment, including the IP of BACARDI NH7 Weekender music festival. NODWIN Gaming aims to deepen and widen its portfolio of content IPs in the gaming and esports ecosystem by investing in Rusk Media.
Rusk Media is an India-based Gen-Z digital content IP network. The content is tailor made for audiences in the 15-25 age group with a focus on equal viewership across genders. As per the company's press release, NODWIN Gaming's investment in Rusk Media will enable the massification of entertainment-first gaming and esports content in the country and enable media platforms to have access to content that the above-mentioned cohort is looking for.
Nazara Technologies' consolidated net profit rose 9.8% to Rs 14.50 crore on a 17.8% surge in net sales to Rs 129.60 crore in Q2 September 2021 over Q2 September 2020.
Nazara Technologies is one of the leading mobile games companies. It is India's leading diversified gaming and sports media platform with a presence across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports, and gamified early learning ecosystems.
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