Indian gaming and sports media company Nazara Technologies has announced that it will earmark US$100 million (~Rs 830 crore) towards mergers and acquisitions (M&A) within the next 24 months.
The company plans to identify burgeoning opportunities within the gaming, esports and adtech arenas with a particular focus on established gaming IP’s/studios and also those advancing in technologies like web3, virtual reality and AI.
Nazara’s recent fundraise garnered Rs. 760 crore (~US$90 million) via a preferential allotment that attracted marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others.
Commenting on global expansion, Nazara Technologies joint MD & CEO Nitish Mittersain said, “Nazara has seen significant success in its “acquire and scale” strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others. Our unique decentralised model allows these businesses to operate autonomously by strong management and provides us with significant bandwidth to scale the platform we have created. The $100 million pledge will further boost this opportunity for us in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market.”
With presence in India, US and other global markets, Nazara owns gaming and esports brands like Nodwin Gaming, Sportskeeda and Pro Football Network, and gaming products like Kiddopia and Animal Jam.