Datawrkz, the digital advertising arm of publicly-listed media and gaming technology company Nazara Technologies, has acquired UK-based growth marketing agency Space & Time for approximately £4.8 million (Rs 52.3 crore) in a cash and stock transaction to expand its global footprint.
The acquisition is an important move in advancing Datawrkz’s growth ambitions across Europe and North America, Nazara Technologies said in a release.
The partnership will enable both the companies to deliver more impactful digital advertising solutions and drive further expansion, especially in the European and UK markets, the company added.
The transaction will also mean that Space & Time will gain access to Datawrkz’s technology and products to improve its ability to deliver effective campaigns and capitalize on growth opportunities in Europe and North America.
Founded in 2013, Datawrkz is a digital advertising company in which Nazara acquired a 33% stake in 2022.
With the acquisition, Senthil Govindan, chief executive officer and founder of Datawrkz, will join the Space & Time board.
“We are embarking on an inorganic strategy to complement our strong independent growth, and Space & Time is an ideal partner. The cultural alignment and shared focus on delivering value for clients make this acquisition a perfect fit. We anticipate this collaboration will significantly boost growth for both companies, with Space & Time driving our expansion in Europe,” said Govindan.
Founded in 2000, Space & Time is one of the Google Premier Partners in the UK. “The company was founded with very clear principles focussed around client success…The challenge was to find an investor that shares this passion for client-centricity and that’s exactly what we’ve found in Datawrkz,” said Chris Jones, chief executive officer of Datawrkz.
The acquisition comes on the heels of Nazaara raising another Rs 900 crore ($107.5 million) through a preferential issue of equity shares. It had planned to use the capital for more inorganic growth, as it gears up to bolster its international presence.