Nazara acquires 100% ownership of Kiddopia's developer Paper Boat Apps

Delhi: Nazara Technologies announced the acquisition of additional 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for a sum of Rs 300 crores to be paid in cash in tranches to take its ownership in PBA to 100%.

Paper Boat Apps is the developer and publisher of 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 the kids gamified learning IP ‘Kiddopia’. 

Earlier, Nazara had an acquisition in 2019 of a 50.91% stake in Paper Boat Apps. 

Nitish Mittersain, CEO and Joint Managing Director of Nazara Technologies, said, “At Nazara, 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.”

He added, “Nazara is quickly becoming the go-to platform for entrepreneurs in the gaming, sports, and entertainment sectors globally to access opportunities to scale up and generate liquidity for themselves along the way, as exemplified by this transaction.”

Anupam Dhanuka, Promoter of Paper Boat Apps, remarked, "It has been an incredible journey developing Kiddopia into a beloved app for children and parents worldwide. Following the majority acquisition by Nazara, Kiddopia has scaled tremendously, and we are pleased to see it find a permanent home within Nazara. We believe that Kiddopia has significant potential for future growth, and Nazara is well-positioned to elevate it to the next level. We wish Nazara and the entire Kiddopia team the best of luck in their future endeavours."