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Nazara acquires 51% stake in Paper Boat Apps for Rs 83.5 Cr


Mobile gaming publisher Nazara Technologies has acquired 51% stake in Mumbai-based Paper Boat Apps by investing Rs 83.5 crore, at a pre-money valuation of Rs 154 crore. Started in 2013, Paper Boat Apps creates edutainment apps for pre-school kids and would utilize these proceeds to expand its users network in India and US markets.

For the past one year, Nazara is making investments in the gaming genre by acquiring InstaSportz, Sportskeeda, among others. Last month, it had picked up majority stake in Sports Unity for Rs 7.5 crore. (Source)

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