Overwolf Acquires NitroPay, Doubling Audience to 100M

Overwolf, a leading tech platform collaborating with developers to create, distribute, and monetize in-game apps and mods, has recently acquired NitroPay, an ad tech company, for an undisclosed eight-figure sum. This move has significantly expanded Overwolf’s audience to over 100 million unique monthly players.

NitroPay, which generated $20 million in revenue in 2023, provides monetization solutions to website publishers through various means such as display ads, customizable video player advertising, and ad-free browsing for users with premium memberships. It currently serves over 500 websites, including popular gaming sites like Liquipedia, VLR.gg, and Maxroll.

With the acquisition of NitroPay, Overwolf aims to revolutionize the way ads are delivered to consumers. Overwolf already operates an ad tech platform that reaches 43 million monthly gamers through popular titles such as Minecraft, Fortnite, and League of Legends. The company has partnerships with global brands like P&G, Pringles, KFC, Intel, Nissan, Monster Energy, and WPP.

This acquisition is part of Overwolf’s ongoing strategy of investing in community creators and game server monetization. In 2021, Overwolf launched the Creator Fund, offering $50 million to modders developing new ideas for games like Minecraft, Roblox, Fortnite, and GTAV. In the following year, Overwolf acquired Tebex, a management and payment platform for web stores and game servers, for $29 million.

As part of the acquisition, NitroPay will be rebranded as Nitro and will operate as a new division of Overwolf, alongside CurseForge and Tebex. Overwolf plans to enhance Nitro’s existing offering with its technology and infrastructure, providing quicker payments and same-day support to publishers while focusing on delivering faster ad-load times.

Uri Marchand, CEO of Overwolf, believes that in-game advertising is poised for significant growth in the coming years, with promotional spending through gaming and social networks projected to account for around 70% of total industry expenditure by 2027. He sees the acquisition of Nitro as a natural investment for Overwolf, stating that it enhances their commitment to revolutionizing gaming ad tech.

Cody Bye, managing director of Nitro, sees the deal with Overwolf as a significant statement for the ad tech industry. By combining Nitro’s network of website publishers with Overwolf’s desktop apps, they are creating a powerful platform for advertisers to reach one of the largest engaged gaming audiences effectively.

Overall, the acquisition of NitroPay by Overwolf represents a strategic move to expand its reach and capabilities in the gaming ad tech industry, offering publishers and advertisers new and innovative ways to monetize and engage with audiences.