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Gaming major Nazara Technologies is looking to invest INR 15 Cr (around $1.8 Mn) in its subsidiary Datawrkz in a bid to expand its footprint in the digital advertising space.
In a filing with the stock exchanges, the company said it has entered into a share subscription agreement with Bengaluru-based Datawrkz to subscribe to its 4,959 compulsorily convertible cumulative preference shares (CCCPS) for a cash consideration of INR 15 Cr.
“The investment in Datawrkz provides growth capital to fuel both organic and inorganic growth, enhancing its capabilities and expanding its footprint in the digital advertising ecosystem,” the filing read.
The transaction will occur in one or more tranches and is set to be completed within 30 days.
Founded in 2013, Datawrkz is an advertising technology provider for publishers, agencies and brands. Its product portfolio includes a supply side platform and real time bidding platform.
The Bengaluru-headquartered company also has a presence in the US and Singapore. It generated a turnover of INR 104.30 Cr in the financial year 2023-24 (FY24), as compared to INR 157 Cr in FY23 and INR 90.7 Cr in FY22.
(The story will be updated soon)
The post Nazara To Infuse INR 15 Cr Into Its Arm Datawrkz To Expand Digital Ad Play appeared first on Inc42 Media.
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