On January 18th, Nazara Technologies Ltd announced it will acquire a 55% stake in the advertising company Datawrkz. This deal was for about $16.59 million. According to Nazara, this transaction values Datawrkz at roughly $30 million.
Based upon this agreement, Nazara is expected to buy a 33% stake in the company by April of this year for about $8 million. Nazara does have the option to purchase another 22% stake in the company between January and March of 2023.
“Ad tech is now a segment for us from a value creation point of view and through organic and inorganic growth we will build this segment,” said Manish Agarwal, the CEO of Nazara.
Datawrkz is an advertising and monetization company. The organization will enhance Nazara’s in-house abilities to optimize customer acquisition while increasing the yields that come from ad monetization.