Nazara Technologies acquires OpenPlay for Rs 186.4 crore

Nazara Technologies on Friday said it has acquired Hyderabad-based OpenPlay for Rs 186.41 crore.

Nazara’s Board has approved the acquisition of OpenPlay Technologies from its existing shareholders – Sreeram Reddy Vanga and Unnati Management Consultants LLP – at a consideration of Rs 186.41 crore, in one or more tranches, a regulatory filing said.

“In the first tranche of the strategic investment, the company shall acquire 23.30 per cent of the issued and paid-up share capital of OpenPlay for a consideration of Rs 43.43 crores, by end of Q2 of FY 2021-22,” it added.

The remaining tranches will be completed during the financial year 2021-22.