The deal was finalised at Rs 52.3 crores (approximately), Nazara technologies said in an exchange filing on Wednesday.
With this acquisition, Datawrkz will expand its bases in Europe and North America.
The collaboration merges Space & Time’s expertise in growth marketing, media, and technology with Datawrkz’s strengths in programmatic advertising and optimization.
This partnership aims to enhance the effectiveness of digital advertising solutions and foster further expansion, particularly in the UK and European markets.
Further, Space & Time will benefit from access to Datawrkz’s advanced technology and products, improving their capacity to execute impactful campaigns and leverage growth opportunities.Founded in 2013, Datawrkz saw Nazara Technologies acquire a 33% stake in the company in 2022. With this acquisition, Senthil Govindan, CEO and founder of Datawrkz is set to join the board of Space & Time.
“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,” Govindan was quoted as saying.
Established in 2000, Space & Time has experienced substantial revenue growth over the past three years and is one of the few Google Premier Partners in the UK.
Earlier this year, Chris Jones, CEO of Space & Time, was recognized in the ‘CEO and Leaders’ category of the BIMA 100.
“The company was founded with very clear principles focused around client success. I’m incredibly proud to say these are more intrinsic and fundamental to our values than ever. The challenge was to find an investor that shares this passion for client-centricity, and that’s exactly what we’ve found in Datawrkz. As two fast-growing and specialist businesses, the potential between us made this the perfect match. The investment in key areas such as data and technology that this deal brings will help future-proof our clients’ business as we continue to grow. The deal represents an exciting new chapter in the Space & Time story as we partner with Datawrkz to bring new opportunities to clients. We’re excited for all that lies ahead,” Jones said.
