Nazara Technologies Ltd., a Mumbai, India-based diversified gaming and sports media company, has acquired WildWorks, a Salt Lake City children’s interactive entertainment company. The deal was backed by backed by venture capital firm Signal Peaks Ventures, based in Salt Lake City. Nazara will acquire 100 percent of the company and its intellectual property from existing shareholders in an all-cash transaction.{mprestriction ids="1,3"}
WildWorks generated $13.8 million in revenue during the calendar year of 2021 and $5.8 million during the first half of this calendar year. Founded in 2003, WildWorks is a game studio focused on the children’s market for ages 8 to 12. In the past decade, Wildworks’ mobile apps have attracted over 150 million players.
As a result of the acquisition, WildWorks is expected to continue its expansion with new products and geographic markets in 2023 and beyond, a company release said. Two of the original founders, CEO Clark Stacey and Chief Operating Officer Jeff Amis, will remain with the company in their current positions and lead its next phase of growth as part of the “Friends of Nazara” network.
“With its strong brand presence and talented Utah-based development team, WildWorks enables us to solidify our leadership position in the gamified learning space for kids,” said Nitish Mittersain, founder and managing director of Nazara Technologies. “The 8-to-12-year-old player demographic of Animal Jam builds on the success of our Kiddopia early learning product for 2-to-7-year-old kids, extending our reach with families while maintaining our focus on high-quality educational content.”
“With the ubiquity of connected mobile devices among kids, parents are recognizing that the quality of a child’s screen time is as vital to monitor as the quantity,” Mittersain said. “WildWorks has earned the trust of millions of families through their approach to safe social gameplay in Animal Jam, and Nazara’s global capabilities will help bring those experiences to millions more.”
“Joining Nazara enables a new phase of growth and international reach for WildWorks and our game,” said Stacey. “Our company goal has always been ‘Fun with Substance.’ So, of paramount importance for us was finding a partner who shared our commitment to improving kids’ lives through play and earning the trust of parents. We immediately resonated with the Nazara team and respect the commitment they’ve already made to kids through Paper Boat Apps and Kiddopia. We’re joining a great family, and I think our player community will be ecstatic with the results.”{/mprestriction}
