Overwolf Expands with Nitropay Acquisition

Overwolf, a prominent user-generated content marketplace, has acquired Nitropay, bolstering its position in the gaming industry. The financial details of the acquisition remain undisclosed, but it is reportedly a substantial eight-figure deal. Nitropay, established in 2017, specializes in managing video ad auctions and providing a customizable video player for in-stream and out-stream ad integration on websites. Following the acquisition, the ad tech company will undergo a rebranding to Nitro. According to projections, gaming and social network ad spending is expected to comprise approximately 70% of total advertising expenditure by 2027, signaling a significant surge in the market. "The acquisition of Nitro marks a significant milestone for Overwolf, as we strengthen our dedication to transforming the gaming ad tech sector," stated Uri Marchand, CEO of Overwolf.