Nazara Tech acquires WildWorks to strengthen presence in gamified learning segment; stock climbs ~1.5%

30 Aug 2022 , 09:56 AM

Nazara Technologies Limited, India-based diversified gaming, and sports media company announced the acquisition of WildWorks, a leading U.S. children’s interactive entertainment company.

WildWorks’ revenues in CY21 were $13.8 million and $5.8 million in H1CY22, with EBITDA of $3.1 million in CY21 and $1.6 million in H1CY22.

WildWorks, founded in 2003, is one of the most successful and established gaming companies focused on the children’s market for ages 8-12, with the #1 Grossing app in its category.

WildWorks’ mobile apps have attracted over 150 million players over the last decade, and as a consequence of today’s agreement, WildWorks is projected to grow into new products and regions in 2023 and beyond.

Two of the company’s original founders, CEO Clark Stacey and COO Jeff Amis, will stay on and manage the company’s next phase of growth as part of the “Friends of Nazara” network.

WildWorks’ Animal Jam game is described as an online playground for children who enjoy animals and the natural environment. The game, which is available on iOS and Android mobile devices as well as Mac and PC computers, features world-building and multiplayer games in a closely moderated social play space.

It also features a wealth of free STEAM-oriented educational content that players can access through the app and the AJ Academy website. 

Following the acquisition of Nazara, WildWorks intends to translate the existing Animal Jam applications for additional markets while also developing new apps and interactive experiences with the brand.

At around 10.00 AM, Nazara Technologies was trading 1.37% higher at Rs639.40, against previous close of Rs630.75 on NSE. It hit intraday high and low of Rs645.75 and Rs636 respectively.

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