Nazar Technologies, which is backed by the entrepreneur Rakesh Jhunjhunwala, recently announced it had acquired a 100% stake in the organization OpenPlay. The deal was for ₹186.4 crore which translates to about $25.24 million.
“The OpenPlay acquisition offers an opportunity for Nazara to build a network of skill gaming destinations operating on one common tech platform under the proven leadership of Sreeram and his team at OpenPlay,” said Manish Agarwal, the CEO of OpenPlay. “Sreeram is a successful entrepreneur globally in online real money gaming and we are excited that he will be leading Nazara’s growth in this sector.”
OpenPlay is a skill-based gaming company that is headquartered in Hyderabad, a city in central India. The privately-held esports organization currently has between 50 and 200 employees.