Why This Rekha Jhunjhunwala-Backed Small Cap Stock Is Surging 6% Today

Shares of Nazara Technologies shot up on Thursday after Nodwin Gaming acquired the former’s game marketing agency in Singapore.

What Happened: Nodwin Gaming’s Singapore-based subsidiary, Nodwin Gaming International, has completed the acquisition of game marketing agency Publishme. The deal, valued at $2 million (16.6 crore), saw Nodwin Gaming purchase an 82.81% stake from Nazara Technologies’ Dubai unit and the remaining 17.19% stake from Publishme co-founder Ozgur Ozalp.

Following the transaction, Publishme will undergo a name change to Nodwin Gaming in the Middle East while retaining the Publishme identity in its original market, Turkey. Ozgur Ozalp will assume the role of CEO for Nodwin Gaming Dubai.

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Why It Matters: This strategic move is poised to strengthen Nodwin Gaming’s global presence and enhance its solutions capabilities for brands and publishers. The company’s expansion efforts are particularly focused on the BRICS global network, which includes nations such as Brazil, Russia, India, China, South Africa, the United Arab Emirates, Saudi Arabia, Iran, Ethiopia, Egypt, and Argentina.

Nazara CEO Nitish Mittersain highlighted the significant synergies between Nodwin Gaming and Publishme, emphasising that the transaction would enable Nodwin Gaming to establish a stronger foothold in the Middle East esports market.

Publishme is a gaming marketing agency with a focus on game publishers in Turkey and the United Arab Emirates. It specialises in aiding companies with game launch strategies, social media management, sponsorship and activations. In June 2021, Nazara Technologies acquired a majority stake in Publishme for ₹20 crore.

Price Action: Nazara Tech’s share price was up 6.27% at ₹875 at the start of trade on Thursday.

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