Mumbai, March 13, 2024: Nazara Technologies Limited (NSE: NAZARA), a prominent gaming and sports media company, has announced its ambitious plan to allocate US$100 million (~INR 830 cr) for mergers and acquisitions (M&A) over the next 24 months. This initiative underscores Nazara’s dedication to fortifying its global presence and advancing as a leading gaming platform on the international stage.
Following a recent successful fundraising endeavor that secured Rs. 760 crore (~$90 million) through preferential allotment, with investments from esteemed entities such as Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth Management, Nazara is poised for significant expansion in the foreseeable future.
The company aims to identify promising opportunities within the gaming, esports, and adtech sectors, with a keen focus on established gaming IPs/studios and those pioneering cutting-edge technologies such as web3, Virtual Reality, and AI.
Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, emphasized, “Nazara has achieved notable success with its ‘acquire and scale’ strategy in recent years, evidenced by the substantial growth post-acquisition of Kiddopia, Nodwin Gaming, and Sportskeeda, among others. Our decentralized model allows these businesses to operate autonomously under strong management, providing us with significant scalability. The $100 million pledge will further enhance our capabilities in this direction. We are particularly keen on investing in and acquiring gaming studios globally, with a specific focus on India’s 500 million gamers and the expansive North American market.”
Nazara is actively engaged in the gaming ecosystem with gaming and esports brands spanning across India, the US, and other global markets. Notable brands include Nodwin Gaming in esports, Sportskeeda and Pro Football Network in sports media. Nazara’s interactive gaming offerings encompass gamified early learning products like Kiddopia and Animal Jam, both of which are leaders in their respective segments on a global scale.