Hyderabad startup OpenPlay gets acquired by Nazara
Hyderabad: Hyderabad-based skill-based gaming company OpenPlay gets acquired by diversified gaming and sports media Nazara for Rs 186 crore. The Rakesh Jhunjhunwala-backed Nazara Technologies has bought 100 per cent stake in the city-based startup. The startup founded in 2012 by Sreeram Reddy Vanga operates a multi-game consumer gaming platform under the Classic Games brand.
The brand hosts skill-based games and operates the highest standards of technology, game fairness, advance player protection, security, and AML and advertising standards. Vanga, who is a serial entrepreneur in the online gaming industry, had founded CozyGames which became the second-largest Bingo network in the UK before being acquired.
He said, “The last 18 years of my career have been incredible with PartyGaming that started in 2002 getting listed on the London Stock Exchange in 2005. I also took the entrepreneurial plunge with CozyGames and sold the company to Entain PLC in 2017. And now OpenPlay finds its home with India’s leading gaming conglomerate.”
The Friends of Nazara network comprises of established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale. These companies include Nodwin Gaming and Sportskeeda in Esports Next Wave Multimedia and Paper Boat Apps, developers of popular gamified early learning app Kiddopia.
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