Nazara Technologies’ mobile gaming arm, Next Wave Multimedia, is set to finalize the acquisition of the intellectual property rights for Ultimate Teen Patti within the next thirty days. This development was confirmed through a BSE filing by the diversified gaming company, which disclosed the deal’s valuation at Rs 10 crores.
Nazara had initially announced its intent to purchase the card game company from Games24x7 in April this year. Ultimate Teen Patti is a popular app that allows users to play the Teen Patti card game, a variant of poker, online with other competitors. The game is designed as a free-to-play online platform, ensuring that no real money is involved in the gameplay.
The acquisition is part of Nazara’s broader strategy to enhance its growth trajectory. Earlier this year, the company raised Rs 250 crores through a preferential share allotment. The funding is being directed towards various growth initiatives, including investments in the influencer platform Kofluence and Germany-based Freaks 4U Gaming through its subsidiary, Nodwin Gaming.
The online gaming industry in India is witnessing exponential growth. According to a recent report by EY, the industry is expected to grow at a compound annual growth rate (CAGR) of 21%, reaching an estimated Rs 38,800 crores by 2026.
