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Overwolf expands its in-game advertising empire with the acquisition of NitroPay

Overwolf, a technology platform that works with developers to create, distribute and monetize gaming apps and mods, announced the acquisition of advertising technology company NitroPay for an undisclosed eight-figure sum, doubling Overwolf’s audience to over 100 million unique players per month.

NitroPay, which earned $20 million in 2023, offers website publishers monetization solutions through display advertising, customizable ads in video players, and ad-free browsing for users with premium memberships. It currently powers over 500 websites, including well-known gaming sites such as e-sports specialist Liquipedia, Brave VLR.gg hub and ARPG-focused Maxroll.

Overwolf, which already operates an advertising technology platform that reaches 43 million players per month with such titles Minecraft, Fortnite, AND League of Legends, believes that NitroPay will help it change the way advertising is displayed to consumers. Overwolf currently works with global brands including P&G, Pringles, KFC, Intel, Nissan, Monster Energy and WPP.

The NitroPay deal is the latest of several significant investments Overwolf has made over the past few years, with recent deals focused on social creators and game server monetization.

In 2021, he announced the creation of the Overwolf Creator Fund, which offered $50 million to modders who developed new ideas for titles such as Minecraft, Roblox, FortniteAND GTA V. The following year, it acquired Tebex, a management and payment platform for developers of online stores and game servers, for $29 million.

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

Commenting on the deal, Overwolf CEO Uri Marchand believes that Nitro is a natural investment for the company as in-game advertising “will explode” in the coming years, claiming that by 2027, promotional spend via games and social networks will will amount to approximately 70% of total industry expenditure.

He said: “With the acquisition of Nitro, Overwolf is not only expanding its reach; We are increasing our commitment to revolutionizing in-game advertising technology. Offering publishers unrivaled monetization opportunities, particularly seven net payouts, while setting a new standard for speed and support in the industry is a game-changer that we are extremely proud of.”

Cody Bye, Nitro’s managing director, said his company’s deal with Overwolf is “a statement for the entire ad tech industry.” He added: “By combining our expansive network of website publishers with Overwolf’s desktop applications, we create an unrivaled, powerful platform where advertisers can now simply and effectively reach one of the largest engaged gaming audiences to achieve their goals.”