Nazara Technologies, a leading gaming and sports media company, announced the completion of its acquisition of Ultimate Teen Patti. The company acquired all intellectual property rights, software, and associated trademarks related to the game after making the final tranche payment of INR 1 crore.
In April, Nazara had disclosed its plans to acquire all assets connected to the casual freemium card game from U Games, a subsidiary of the skill-gaming unicorn Games24x7. The total acquisition cost amounted to INR 10 crore, with an initial payment of INR 9 crore made on April 4.
The acquisition of Ultimate Teen Patti, a popular card game, strengthens Nazara’s portfolio in the casual gaming segment. The company’s strategic move aligns with its goal of expanding its footprint in the Indian gaming market.
Nazara’s statement emphasized that securing the IP rights, software, and trademarks ensures complete control over the game’s development and distribution. This acquisition marks a significant milestone for Nazara as it continues to diversify its offerings and enhance its presence in the rapidly growing gaming industry.
Nazara Technologies has been actively pursuing acquisitions to bolster its market position and provide a comprehensive gaming experience to its users. The acquisition of Ultimate Teen Patti is a testament to the company’s commitment to growth and innovation in the gaming sector.
