Akshata Sharma
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Mumbai-based gaming company Nazara Technologies has acquired an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters, Anupam and Anshu Dhanuka, for Rs 300 crore.
The transaction brings Nazara's ownership in PBA to 100%.
Paper Boat Apps is the developer and publisher of the popular children's digital gamified learning app Kiddopia, which is the #3 grossing app for children between 2 and 8 years of age in the United States of America.
"At Nazara, we believe an IP such as Kiddopia has immense potential that can be unlocked through several new initiatives and acquiring full ownership underscores our commitment to intensifying our efforts in the gamified learning sector," said Nitish Mittersain, CEO of Nazara Technologies.
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