Nazara clinches its fifth acquisition this year by buying into Paper Boat Apps

• Gaming company Nazara technologies acquires a 51% stake in Paper Boat Apps, a Mumbai-based indie studio.
• Paper Boat Apps is the publisher of Kiddopia.
• Kiddopia is an edutainment app which has over 2.5 million downloads and 100,000 paying users.

Indian gaming company Nazara technologies acquired a 51% stake in Paper Boat Apps, a Mumbai-based indie studio. Nazara has invested ₹83.5 crores for the deal.

Paper Boat Apps is the publisher of Kiddopia, an edutainment app which has over 2.5 million downloads and 100,000 paying users.

“Kiddopia addresses the concern where young children are found to consume digital content through their parent’s devices. Kiddopia offers a positive alternative while bringing high quality, curated educational content packaged within an entertaining framework that keeps both kids healthy and parents happy. Kiddopia will be leveraged to over 100 million users through the Nazara network,” Nitish Mittersain, founder and MD, Nazara Technologies said.

But this acquisition is only one of the series of investments by Nazara this year.

In September 2019, Nazara acquired majority stake in Sports Unity, the creator of multiplayer quiz called Qunami, for ₹7.5 crore.

In August, Nazara also bought 67% stake in Sportskeeda for ₹44 crore. In May, Nazara invested in local languages gaming platform Bakbuck.

It had also bet on a fantasy gaming platform Halaplay with an investment of ₹40 crores in March.

Nazara also holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu, Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent.

Nazara is also gearing up to go for an IPO.