The deal was valued at around Rs 52.3 crore, it said in an exchange filing.
The company said acquiring Space & Time will help in expanding across Europe and North America and boosting its growth in the global digital advertising market. It will also boost Datawrkz’s revenue and earnings before interest, taxes, depreciation and amortisation (Ebitda) through cross-selling of products and services, it said.
“Aggregate consideration of GBP 4.8 million (~Rs 52.3 crores), to be paid 68.75% in cash (amounting to GBP 3.3 million (~Rs 36.1 crores) and 31.25% in equity shares of Datawrkz Operations UK Ltd. (amounting to GBP 1.5 million (~Rs 16.2 crores)),” the filing said.
Founded in 2013, Datawrkz is a global advertising technology firm focused on accelerating user and revenue growth for clients through highly optimised digital advertising.
“The cultural alignment and shared focus on delivering value for clients make this acquisition a perfect fit. We anticipate this collaboration will significantly boost growth for both companies, with Space & Time driving our expansion in Europe,” said Senthil Govindan, founder and chief executive of Datawrkz.
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Founded in 2000, Space & Time optimises customer experience, leveraging media and technology to propel growth across various sectors. It clocked a net revenue of Rs 116 crore in FY24, up from Rs 107 crore a year ago. “As two fast-growing and specialist businesses, the potential between us made this the perfect match and the investment in key areas such as data and technology that this deal brings will help future-proof our clients’ business as we continue to grow,” said Chris Jones, chief executive officer of Space & Time.
In recent months, Nazara has made several acquisitions, through its esports and events arm, Nodwin, including West Asia and Turkey-focused marketing firm Publishme, events firm Comic Con India, Singapore-based events firm Branded and Turkish esports and gaming firm Ninja Global.
Last month Nazara Technologies acquired a 15.86% stake in esports community platform Stan for Rs 18.4 crore ($2.2 million) in cash from existing investors.
The gaming firm reported a 13% increase in net profit to Rs 23.6 crore in the April-June quarter of FY25, even as revenue fell 1.7% to Rs 250 crore. In the afternoon, its stock went up 1.76% at Rs 935.00 on the BSE.
