Nazara Tech Subsidiary Acquires UK-based Growth Marketing Company Space & Time

Datawrkz, a Nazara Technologies Limited company, has acquired Space & Time, a UK-based independent growth marketing agency.

The transaction was completed for Rs 52.3 crores (roughly), Nazara Technologies said in an exchange filing.

Following the announcement, Nazara Tech's shares were trading at Rs 947, up 3.31 percent at 1:35 PM on Wednesday.

The partnership combines Space & Time's capabilities in growth marketing, media, and technology with Datawrkz's strengths in programmatic advertising and optimization.

This collaboration intends to improve the efficacy of digital advertising solutions and encourage future growth, particularly in the UK and European markets.

Furthermore, Space & Time will gain access to Datawrkz's innovative technology and products, enhancing their ability to execute effective campaigns and capitalize on growth prospects.

Datawrkz was founded in 2013, and Nazara Technologies acquired a 33% share in the company in 2022.

Senthil Govindan, CEO and founder of Datawrkz, will join Space & Time's board of directors as a result of this transaction.

"We are launching an inorganic plan to complement our strong independent growth, and Space & Time is an excellent partner. This acquisition is an excellent fit due to cultural alignment and a shared focus on providing value to clients. "We anticipate that this collaboration will significantly boost growth for both companies, with Space & Time driving our expansion in Europe," Govindan stated.

Space & Time, founded in 2000, has had significant revenue growth over the last three years and is one of the few Google Premier Partners in the UK.

Chris Jones, CEO of Space & Time, received the BIMA 100's 'CEO and Leaders' award earlier this year.

"The organization was based on very clear ideals that revolved around client success. I'm quite delighted to state that they are more core and fundamental to our principles than ever. The issue was to find an investor who shares our enthusiasm for client-centricity, and we found it in Datawrkz. As two rapidly developing and specialised businesses, the potential between us made this an ideal fit. This deal's investment in important areas such as data and technology will assist to future-proof our clients' businesses as we grow. The agreement marks an exciting new chapter in the Space & Time tale, as we collaborate with Datawrkz to provide new prospects to clients. We're excited for everything that lies ahead", Jones stated.