M&A

M&A

Nazara acquires 60% in indoor play centers co. Funky Monkeys for Rs.44-Cr; buys 4.7% in edtech co. L

BSE Disclosure  

Listed gaming and sports media company Nazara Technologies Ltd has expanded into physical entertainment with the acquisition of a 60% stake in Mumbai-based Funky Monkeys Play Centers Pvt Ltd , an operator of indoor soft play centers for children, for INR 43.7 crore. Funky Monkeys operates 11 centers across India, offering interactive play experiences for children.Nazara will also invest INR 4.2 crore for a 4.7% stake in Learntube.ai, an AI-powered edtech platform which claims to offer gamified learning, catering to over 20 lakh learners.Nazara will also invest INR 148 crore in its existing subsidiaries Sportskeeda, Nodwin Gaming, and Datawrkz to increase its ownership in them.Nazara will invest INR 64 crore through Optionally Convertible Preference Shares in Nodwin. The funds will support Nodwins expansion, enhance its intellectual properties (IPs), and strengthen its footprint in emerging markets.Nazara will invest INR 69 crore to purchase shares arising from the exercise of ESOPs from the Sportskeeda management to increase its stake to 100% in the company making it a wholly-owned subsidiary.Nazara will invest INR 15 crore in Datawrkz through the subscription of Compulsorily Convertible Cumulative Preference Shares.

In Apr 2022, Emotix, which is into conversational artificial intelligence and robotics , had invested in Funky Monkeys Play Centers.