Nazara acquires IP rights of Ultimate Teen Patti from Games24x7

Nazara Technologies’ mobile gaming arm Next Wave Multimedia has acquired the intellectual property rights of Ultimate Teen Patti from Games24X7 for Rs 10 crore. 

Ultimate Teen Patti lets users play teen patti, a form of poker, online and with other competitors without any real money and is designed as a free to play online game. It claims to have achieved a gross turnover of Rs 7 crore in the financial year 2022-23 (FY23).

With the acquisition, Nextwave will expand its offerings in the casual freemium gaming space.

Recently, Nazara announced the acquisition of an additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crore.

In May, Nazara acquired 100% stake in mobile gaming subsidiary Nextwave Multimedia by buying the remaining 28.12% from founders.

Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space.