Nazara Technologies Ltd., the gaming and esports company, has announced the acquisition of additional 48.42% stake in Paper Boat Apps Pvt. Ltd. (PBA) from its promoters Anupam and Anshu Dhanuka for ₹300 crore to be paid in cash in tranches to take its ownership in PBA to 100%. Paper Boat Apps is the developer and publisher of popular children’s digital gamified learning app ‘Kiddopia’. “Nazara will also consider merging Paper Boat Apps into the company at the appropriate time to bring home one of the world’s most popular kids gamified learning IP ‘Kiddopia’. This step will allow Nazara to benefit from healthy cash flows that can be reinvested for organic as well as inorganic growth,” the company said in a statement.

In 2019, Nazara had acquired 50.91% stake in Paper Boat Apps. 

Nitish Mittersain, CEO and Joint MD, Nazara Technologies, said, “We believe an IP such as Kiddopia has immense potential that can be unlocked through several new initiatives and acquiring full ownership underscores our commitment to intensifying our efforts in the gamified learning sector.”