Nazara Technologies Ltd arm to acquire 69.18% stake in Publishme

Publishme Global FZ LLC, one of step-down wholly owned subsidiary of Nazara Technologies Limited, have signed definitive agreements on September 20,2021 with Arrakis Tanitim Organizasyon Pazarlama San.Tic. Ltd. Sti. (Publishme) and the founders and shareholders of Publishme and Nazara Technologies FZ LLC for the proposed acquisition of 100% stake of Publishme through secondary purchase from the founders and existing shareholders of Publishme and subscription of 30.82% stake by the founders of Publishme in Publishme Global FZ LLC.

Post completion of both above transaction, the Company through its step-down wholly owned subsidiary company i.e. Publishme Global FZ LLC, will hold 69.18% stake in Publishme.

The aforesaid transaction is subject to conditions precedent and approvals.

Publishme is a full-service games marketing and publishing agency which works extensively with gaming publishers in Turkey and MENA region. The Company led by Özgür Özalp, the former publishing head for emerging markets with EPIC Games, the company has a strong clientele including Garena, My.Games, Lokum Games and also works with several brands in Turkey and MENA region including Turkcell, RedBull, Hepsiburada.com, KFC, ASUS, Yemeksepeti.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 2118 as compared to the previous close of Rs. 2102.15. The total number of shares traded during the day was 40204 in over 3889 trades.

The stock hit an intraday high of Rs. 2135 and intraday low of 2018.5. The net turnover during the day was Rs. 83512635.

Source : Equity Bulls

Keywords