The Ultimate Teen Patti intellectual property rights were purchased from Games24X7 by Nazara Technologies’ mobile gaming division, Next Wave Multimedia, for a sum of Rs 10 crore.
Ultimate Teen Patti is a free-to-play online game that allows users to play teen patti, a variation of poker, against other players online and without using real money. According to its assertions, it generated a gross turnover of Rs 7 crore during the 2022–2023 fiscal year (FY23).
Nextwave will be able to provide more casual freemium games as a result of the acquisition.
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Nazara recently revealed that it has paid Rs 300 crore to acquire an extra 48.42% of Paper Boat Apps (PBA) from its promoters, Anupam and Anshu Dhanuka.
“We hereby inform you that, brd on the intimation received from Next Wave Multimedia… the acquisition of all the intellectual Property rights pertaining to the “UTP – Ultimate Teen Patti” casual freemium card game/ software and associated trademarks from U Games Private Limited has been completed, upon payment of the final tranche of the consideration of INR 1 Cr, inclusive of applicable taxes, in cash,” said Nazara.
Nazara bought the remaining 28.12% of Nextwave Multimedia’s mobile gaming division in May, gaining a 100% ownership position.
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Among the businesses in It’s portfolio are Pro Football Network, Sportskeeda, and Nodwin Gaming, which operate in the esports industry.
About Nazara
Nazara Technologies Limited is a well-established mobile gaming company with headquarters in India and offices in Dubai, Africa, and Singapore. Nazara has 250 strong Indian and Dubai-based employees. They optimise branded property delivery to mobile users to maximise income and brand promotion.
About Ultimate Teen Patti
Ultimate Teen Patti, India’s top Teen Patti app, offers a fascinating iOS card game. This free app, developed by U Games Private Limited and powered by RummyCircle.com, is reliable and has many useful features.
