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Tag: acquisition

  • Netflix acquires Boss Fight Entertainment, its third game studio

    Netflix acquires Boss Fight Entertainment, its third game studio

    Mumbai: Streaming major Netflix has announced the acquisition of Texas-based independent video game developer Boss Fight Entertainment. This is the streamer’s third studio purchase since it revealed the plans to enter the lucrative mobile game market last year.

    The financial terms of the agreement are kept under wraps.

    ALSO READ | Netflix launches first two mobile games in Poland

    Boss Fight Entertainment was founded in 2013 by David Rippy, Bill Jackson, and Scott Winsett. The Boss Fight Entertainment team will continue to operate out of their current studios in Allen (Dallas), Austin, and Seattle.

    “Since we launched mobile games to our members around the world just four months ago, we’ve been expanding our games catalog bit by bit as we build out our in-house creative development team,” said Netflix VP of game studios Amir Rahimi. “Through partnerships with developers around the world, hiring top talent, and acquisitions like this, we hope to build a world-class games studio capable of bringing a wide variety of delightful and deeply engaging original games.”

    “Boss Fight’s mission is to bring simple, beautiful, and fun game experiences to our players wherever they want to play,” said the founders of Boss Fight Entertainment in a joint statement. “Netflix’s commitment to offering ad-free games as part of members’ subscriptions enables game developers like us to focus on creating delightful game play without worrying about monetisation. We couldn’t be more excited to join Netflix at this early stage as we continue doing what we love to do while helping to shape the future of games on Netflix together.”

    Earlier this month, Netflix had announced the purchase of the game studio Next Games and in September it had bought Night School.

  • Amazon closes acquisition deal with movie studio MGM

    Amazon closes acquisition deal with movie studio MGM

    Mumbai: Amazon has completed its $8.45 billion acquisition of movie studio Metro Goldwyn Mayer (MGM) recently. MGM is the studio behind franchises such as ‘James Bond’ and ‘Rocky’.

    The decision to close the deal comes after a deadline passed by the US Federal Trade Commission (FTC) to challenge the deal. Earlier this week, the European Commission had approved the deal.

    Amazon is set to acquire 4000 film titles, 17,000 TV episodes, 180 Academy Awards and 100 Emmy Awards. It will bolster the content catalogue offered on its video streaming service Amazon Prime Video. The talent at MGM will be merged with Amazon Studios to create diverse entertainment choices for consumers.

    MGM’s catalogue includes TV shows such as “The Handmaid’s Tale”, “Fargo”, “Vikings” and films such as “12 Angry Men’, ‘Basic Instinct’, ‘Creed’, ‘Raging Bull’, ‘Silence of the Lambs’, ‘Tomb Raider’ as well as this year’s Oscar nominee ‘Licorice Pizza’.

    The MGM staff will join the organisation of Prime Video and Amazon Studios senior vice president Mike Hopkins. Amazon had announced the deal in May 2021.

  • Discovery Plus, HBO Max to merge into one streaming service

    Discovery Plus, HBO Max to merge into one streaming service

    Mumbai: Discovery, which is expected to close its acquisition of WarnerMedia in the second quarter of 2022, confirmed its plans to combine its streaming service Discovery Plus and WarnerMedia’s HBO Max into one service rather than offer the two platforms as a bundle.

    Discovery chief financial officer Gunnar Weidenfels who addressed the Deutsche Bank 30th Annual Media, Internet and Telecom Conference said that Discovery is making preparations to combine the two streaming services. But before they are combined, the first step of integration will be some form of bundling as the company figures out the best way to merge the two platforms.

    On 11 March, Discovery Inc stockholders approved various matters relating to the acquisition of WarnerMedia from AT&T to create Warner Bros-Discovery Inc. The transaction will bring together WarnerMedia’s entertainment, sports and new assets with Discovery’s non-fiction, international entertainment, and sports business.

    Direct-to-consumer service Discovery Plus had 22 million subscribers, while HBO Max had 73.8 million subscribers at the end of 2021.

  • ADK expands footprint to India, acquires Rage Communications

    ADK expands footprint to India, acquires Rage Communications

    Mumbai: Japanese major ADK on Monday announced the acquisition of Rage Communications, an India-based independent agency that specialises in digital experience design and e-commerce solutions. As part of the agreement, Rage will be rebranded as ADK Rage.

    “The deal accelerates both companies’ commitment to drive outcome-focused digital marketing and advertising campaigns for clients by bringing together their capabilities, in data-driven insights, and content narrative,” said the statement.

    The acquisition will see ADK becoming the major shareholder, while Rage’s founders JRK Rao and Karthik Kumar remain as minority shareholders. Rao will continue to lead as chief executive officer of ADK Rage. Rao and Kumar, will be working closely with ADK global team to reach client companies in the digital domain.

    “This partnership marks our milestone entry into the India and Australia markets – two of the fastest-growing digital markets in the APAC region,” said ADK Global Operations CEO Yasuyuki Katagi. “With Rage, we will immediately gain traction at a brand consultancy level, providing a strong starting point for the further growth in these key markets. We are also extremely excited at the collaboration opportunities to supercharge growth for our clients together. The new ADK Rage will offer clients with differentiated industry expertise, unparalleled partnerships, unique intellectual property, a full-service digital innovation offering and compelling scale.”

    Headquartered in Chennai, Rage offers a full stack of solutions across CX, CRM, UI/UX and performance marketing solutions for clients around the world. Through its offices in India, Australia (Sydney) and Singapore, the agency provides services to marquee brands and companies.

    “This partnership with ADK is a significant moment in the growth of Rage as it opens new horizons in a rapidly changing global economy,” commented JRK Rao and Karthik Kumar. “Our two companies share the same vision in the digital transformation of businesses and their interactions with consumers. It is our hope that our combined strengths will add greater value to our existing clients and reach out to the larger marketing community around the world. This also represents substantial opportunities for our respective staffs to work together in an increasingly technology-led multicultural world.”

  • Adani forays into media biz, acquires minority stake in Quint Digital arm

    Adani forays into media biz, acquires minority stake in Quint Digital arm

    Mumbai: Quint Digital Media, via its wholly owned subsidiary has entered into a binding term sheet with the Adani Group. The business conglomerate will acquire a minority stake in Quintillion Business Media (QBM), an indirect subsidiary of Quint Digital.

    The proposed transaction with the Adani Group is only for QBM which is a digital business news platform and not in relation to other digital media/media tech properties owned by Quint Digital viz The Quint, Quintype Technologies, thenewsminute and Youthkiawaaz.

    “Adani Media Ventures intends to lead the path for new age media across different platforms,” stated Adani Media Ventures Ltd CEO Sunjay Pugalia. “The adoption of technology and the increased ability of our nation to consume information has dramatically transformed the way media is expected to disseminate authentic information. This is exactly what Adani Media Ventures aims to do. I have had the privilege of working with QBM’s talented, credible and diverse team. This relationship between AMV and QBM marks a strong beginning of Adani Group’s foray into Indian media.”

    QBM is a business and financial news company and operates a business news digital platform in India. QBM’s main content is based on the Indian economy, international finance, corporate law and governance and business news, amongst others through its platform Bloomberg | Quint. It has a subsisting content agreement with Bloomberg Television Production Services India.

    “We are delighted to welcome the Adani Group as an investor in QBM,” stated QBM CEO Anil Uniyal. “Given the proven execution record of the Adani group, their support to fulfill the ambitions of QBM will lay the foundation for accelerating the growth of the business and scale of QBM’s high quality content for the Indian audiences.”

  • Nxtdigital board approves transfer of digital, media & communication biz to HGSL

    Nxtdigital board approves transfer of digital, media & communication biz to HGSL

    Mumbai: Nxtdigital (NDL) board of directors has approved the proposed scheme of arrangement between NDL and Hinduja Global Solutions Ltd (HGSL) and their respective shareholders for the demerger of the digital, media and communications business undertaking of NDL into HGSL on a going concern basis.

    The board also approved the share exchange ratio for the proposed transfer. The ratio was approved based on the comprehensive valuation exercise carried out and recommended by two independent valuers – KPMG Valuation Services LLP and SSPA & Co Chartered Accountants. As per the valuation, each shareholder of NDL holding 63 equity shares will receive 20 fully paid equity shares (post bonus) of the face value of Rs 10 per share of HGSL.  

    These new share allotments in HGSL will be over and above the existing shares of NDL held by the shareholders, thus retaining their existing shareholding in NDL.

    “The media and entertainment industry is going through a digital transformation on the back of emerging technologies,” said Nxtdigital managing director and CEO Vynsley Fernandes. “The proposed transfer, once completed, will fuel our expansion plans in the digital space, as we look to harness analytics and automation to grow our digital portfolio across video, broadband, OTT, WiFi and other services.”

    “NDL shall pursue other high growth-oriented business opportunities in a restructured manner including rebranding, renaming in consonance with potential M&A proposals,” said the statement.

    The proposed scheme is subject to all shareholder and regulatory approvals and the approval of the National Company Law Tribunal (NCLT).

  • Sharechat to acquire short video platform MX Takatak for $600 million

    Sharechat to acquire short video platform MX Takatak for $600 million

    Mumbai: Indian social media platform Sharechat has agreed to buy Times Internet-owned short video platform MX Takatak in a $600 million deal that includes a combination of cash and stock.

    MX Takatak is slated to be rebranded in six months and the target for the closure of the deal was at the end of this month, according to Moneycontrol.

    The report indicated that the value of the acquisition may change towards the closure of the deal.

    Mohalla Tech, the parent company of Sharechat, will also integrate 180 employees under MX Takatak as part of the acquisition. It currently employs over 2000 people. 

  • Sony Interactive Entertainment acquires video game developer Bungie

    Sony Interactive Entertainment acquires video game developer Bungie

    Mumbai: Sony Interactive Entertainment has announced that it will acquire video game developer Bungie in a deal that is estimated to be worth $3.6 billion.

    “Bungie’s world-class expertise in multi-platform development and live game services will help us deliver on our vision of expanding PlayStation to hundreds of millions of gamers,” said Sony Interactive Entertainment president and CEO Jim Ryan. “Bungie is a great innovator and has developed incredible proprietary tools that will help PlayStation Studios achieve new heights under Hermen Hulst’s leadership.”

    Bungie is the developer behind the popular gaming franchise “Halo” and massively multiplayer online game “Destiny.” Post the acquisition, Bungie will continue to independently develop and publish games and will continue to be present on all platforms and not just Playstation.

    “In SIE, we have found a partner who unconditionally supports us in all we are and who wants to accelerate our vision to create generation-spanning entertainment, all while preserving the creative independence that beats in Bungie’s heart,” said Bungie CEO Pete Parsons. “We will continue to independently publish and creatively develop our games. We will continue to drive one, unified Bungie community. Our games will continue to be where our community is, wherever they choose to play.”

    “I have spent a great deal of time with the senior team at Bungie and it is clear their experience and skills are highly complementary to our own,” said Playstation Studios head Hermen Hulst. “We will be ready to welcome and support Bungie as they continue to grow, and I cannot wait to see what the future holds for this incredible team.”

  • Airtel acquires 25 per cent stake in Lavelle Networks

    Airtel acquires 25 per cent stake in Lavelle Networks

    Mumbai: Telecom major Bharti Airtel has acquired about a 25 per cent equity stake in Bengaluru-based technology startup Lavelle Networks. The agreement is subject to statutory approvals.

    Lavelle Networks specialises in software-defined wide area network solutions and it serves a range of industry segments. “As more enterprises move to cloud-based applications to serve their customers in a digital-first ecosystem, they require on-demand and reliable network connectivity. As a result, there is a surge in demand for software-defined solutions that have the agility to serve a cloud-based hybrid IT environment,” said the statement.

    “SD-WAN is the necessary arsenal for enterprises to transform and future-proof their network infrastructure in this digital age,” said Frost & Sullivan South Asia associate director and head ICT Apalak Ghosh. “Its market in India is expected to grow exponentially at a CAGR of 55 per cent in 2022-2026. As per F&S End-User Survey 2021, about 62 per cent of enterprises plan to deploy SD-WAN across their organization in the next 1-2 years. Some of the major drivers which would contribute to this phenomenal run include the need for seamless management of hybrid networks, faster deployment of new sites, and network cost-efficiency.”

    Airtel Business’ network-as-a-service (NaaS) is a digital platform that is built to address the emerging connectivity requirements of enterprises as they go through the cloud and digital adoption and acceleration journey. As part of its NaaS portfolio, Airtel will offer software-defined connectivity solutions from Lavelle Networks and co-create a host of innovations as part of its NaaS platform. This also aims to bring ‘made in India’ products and solutions for enterprises by offering cutting-edge technology and cost efficiencies.

    “We are pleased to support Lavelle’s growth journey and excited to collaborate with them to take their world-class solutions to enterprise customers in the fast-growing Indian NaaS market,” said Airtel Business director and CEO Ajay Chitkara. “With our end-to-end solutions play and brand trust, we are uniquely positioned to serve the needs of India’s fast-growing digital economy.”

    “Digital India’s businesses are racing away to applications, cloud and software,” said Lavelle Networks co-founder and CEO Shyamal Kumar. “Connecting all of this together are our enterprise data networks. We are extremely excited that our product and early market success will now be massively accelerated by this transformational partnership with Airtel.”

  • Nazara acquires majority in ad tech company Datawrkz

    Nazara acquires majority in ad tech company Datawrkz

    Mumbai: Sports media company Nazara Technologies has entered an agreement to acquire 55 per cent stake in programmatic advertising and monetisation company Datawrkz valuing the company at Rs 255 crore (~$30 million) linked to CY 22 EBITDA performance.

    “Datawrkz tech offerings will enhance in-house capabilities of Nazara for optimising its customer acquisition spends as well as enhance yields on ad monetisation of its large consumer base,” the company said in a statement on Tuesday. “The ad revenue monetisation is expected to assist many of the companies in the ‘Friends of Nazara’ network.”

    Nazara will acquire 33 per cent stake (Rs 60 crore payable of which Rs 35 crore is partly payable in cash and the balance consideration of Rs 25 crore will be paid either in cash or swap of shares) in the first tranche by 22 April. Nazara has reserved an option to acquire an additional 22 per cent in the second tranche that is expected to close in Q4 FY23.

    “We, at Nazara, are looking to build strong gaming ad tech offerings globally with the partnership with Datawrkz,” said Nazara Technologies CEO Manish Agarwal. “We strongly believe that growth of gaming-focused ad tech will be exponential in the coming decade across geographies with the growth of gamers and game publishers across freemium, web 3.0 and skill-based real money gaming.”

    He further added, “Ad tech companies with deep data processing capabilities and first-party data ownership will emerge as winners in gaming-focused ad tech and will help Datawrkz to create value for itself as well as for Nazara shareholders.”

    Datawrkz was founded in 2013 by IIM Ahmedabad alumnus Senthil Govindan and is a global advertising technology firm focused on accelerating user and revenue growth for clients through highly optimised digital advertising. It has offices in the US, Singapore, and India and functions as an independent trading desk to power digital media strategy, planning and execution.

    Datawrkz’s self-service product suite for advertisers – Vizibl includes a demand-side platform as well as a customer data platform. On the supply side, Datawrkz generates revenue for publishers through AdPrimus, its supply-side product that drives user engagement, mediates between demand sources and enables audience segmentation.

    For the calendar year 2021, Datawrkz posted combined revenue of Rs 90.7 crore (~$12.1 million) and EBIDTA margin of 12 per cent with around 70 per cent of its revenue coming from the US as per CY 2021 unaudited financial statements.

    “We had started this company with a vision to disrupt the digital advertising space,” said Datawrkz founder Senthil Govindan. “Datawrkz was already on a fast track to achieve our objective with rapid growth and satisfied clients around the world. Through our partnership with Nazara, I see our pace accelerating further. While Datawrkz will be able to immediately bring our natural strengths to bear within the existing Nazara fold, this also gives both sides a tremendous opportunity to build global advertising and publisher monetization products with a sharp focus on the gaming vertical.”

    “As always, it’s a great moment for us to welcome a new friend to our ‘Friends of Nazara’ network and I believe Senthil and the entire Datawrkz team will add great value to what we are building at Nazara over the next few years,” added Nazara Technologies founder and joint MD Nitish Mittersain.