Overwolf acquires Nitropay
With the deal, the content marketplace aims to become the leading gaming ad tech platform
The user-generated content marketplace Overwolf has snapped up Nitropay.
While the exact amount was not provided, the acquisition is said to be an eight-figure deal.
Nitropay, founded in 2017, offers services such as organizing auctions for video advertisements and a customizable video player for websites' ads' instream and outstream.
With the acquisition, the ad tech firm will rebrand into Nitro.
"Advertising in games is set to explode, with projections indicating that by 2027, ad spend in games and social networks will make up approximately 70% of total advertising expenditure.
"With the acquisition of Nitro, Overwolf is not just expanding its reach; we're enhancing our commitment to revolutionizing gaming ad tech," said Overwolf CEO Uri Marchand.