Nazara Technologies acquires 100 percent stake in skill-gaming platform OpenPlay
Gaming and sports media platform, Nazara Technologies announces that it has acquired a 100% stake in Hyderabad-based skill gaming platform, OpenPlay for a consideration of INR 186.4 crores
OpenPlay operates a multi-game consumer gaming platform under its ‘Classic Games’ brand which hosts popular skill-based games and operates the highest standards of technology, game fairness, advanced player protection, security, AML, and advertising standards.
Manish Agarwal, CEO, Nazara shares, “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. 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 led by Sreeram Reddy Vanga who is a serial entrepreneur in the global online gaming industry. In his previous avatar, he founded and led CozyGames to become the second-largest Bingo network in the UK before being acquired. Sreeram was also part of the early team at PartyGaming which went IPO on the London Stock Exchange in 2005.
Sreeram Reddy Vanga says, “I’m excited to join the ‘Friends of Nazara Network’ and look forward to working closely with Nazara leadership and the Network to build India’s largest vernacular social gaming and entertainment platform. Our technology complemented by Nazara’s positioning in the gaming industry in India is the perfect combination for this endeavor.”
The “Friends of Nazara” network comprises established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in Esports Next Wave Multimedia, developer of World Cricket Championship (WCC), the largest mobile-based cricket simulation game, and Paper Boat Apps, developers of popular gamified early learning app Kiddopia.
Read Also : TRUKE COLLABORATES WITH TRINITY GAMING’S ACE CREATORS FOR ITS LATEST CAMPAIGN
Disclaimer: Information mentioned here has not been verified or endorsed by The Gaming Reporter and is in accordance with the press release shared by the company or their appointed representatives.
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