Nazara Technologies wraps up Rs 186cr acquisition of OpenPlay Technologies

Nazara Technologies said that it has wrapped up the previously announced INR 186.4 crores worth acquisition of OpenPlay Technologies, a skill gaming company based in Hyderabad.

The deal was announced by the Indian gaming and sports media company in August 2021.

Nazara Technologies acquired 100% of the shares of OpenPlay Technologies from Unnati Management Consultants and the latter’s founder — Sreeram Reddy Vanga by buying 7,670 equity shares priced at INR 10 per share.

The consideration was paid through the issue and allotment of 6,48,125 equity shares valued at INR 4 per share each of Nazara Technologies to Unnati Management Consultants.

OpenPlay Technologies owns a multi-game consumer gaming platform that is operated under the “Classic Games” brand, which hosts skill-based games like Fantasy Sports, Quiz, and Rummy.