Nazara Technologies stock price: Nazara Technologies gains 2% as arm buys merchandise retailer Planet Superheroes

NEW DELHI: Shares of Nazara Technologies rose 2% in early trading on Friday after the company’s subsidiary NODWIN Gaming said it had acquired comic book, pop culture and superhero retailer Planet Superheroes.

Although NODWIN did not disclose financial details, Nazara Technologies said the value of the deal was Rs 4.9 crore.

The certificate reached a high of Rs 2,430 against Rs 2,383.05 at the previous close on BSE.

“This new addition will enable NODWIN Gaming to deliver iconic global products to the millions of young people who engage with NODWIN Gaming through its immensely popular IP addresses such as India Premiership, VCC, NH7 and DreamHack,” according to reports cited by Nazara. in a swap folder.

According to reports, the unit will also expand current Planet Superheroes offerings by exploring partnerships with global publishers such as KRAFTON, Gameloft, Riot Games, etc., to create innovative and locally relevant product and licensing offerings on games such as BGMI, Valorant, PUBG. PC, Asphalt and CSGO, which have become household names.

Planet Superheroes is a technology-driven omnichannel brand that retails licensed character merchandise or “Superhero Merch” as it is popularly known. It features officially licensed merchandise from Marvel, Warner Bros, Disney, Viacom Networks, Cartoon Network, Fox Studios, Hamleys, and Toys R Us, among others, according to reports.

“Over the past year, it has also built its proprietary social commerce engine which it will integrate with NODWIN’s internal assets to create a one-of-a-kind ‘Influencer-First’ merchandising engine,” the company reports as saying. .