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Nazara Technologies seeks to acquire Smaaash under IBC
Livemint
·
1y ago
Medial
Gaming company Nazara Technologies is reportedly planning to acquire Smaaash Entertainment through the insolvency and bankruptcy process. Nazara will submit its resolution plan by 9 March for the bankrupt firm, which was admitted by the Mumbai bench of the National Company Law Tribunal in May 2022. Other companies, including Adlabs Entertainment and Manikchand Group, have also expressed interest in the insolvent firm. The bid amount remains confidential. Smaaash Entertainment, founded in 2012, is a sports entertainment company that specialises in sports simulation and gamification technologies.
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Nazara’s resolution plan to acquire Smaaash gets NCLT nod
Economic Times
·
3m ago
Medial
The National Company Law Tribunal (NCLT) has approved Nazara Technologies’ plan to acquire Smaaash Entertainment, a sports-themed entertainment company undergoing insolvency proceedings. Nazara, which has been expanding its gaming and media portfolio through acquisitions, received approval from Smaaash’s creditors earlier, aiming to revitalize the company. Smaaash struggled financially, particularly during the pandemic, leading to its financial default and insolvency. The acquisition forms part of Nazara’s broader growth strategy, potentially revitalizing Smaaash’s operations.
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Nazara gets go-ahead for Smaaash acquisition from creditors
Economic Times
·
1y ago
Medial
Media and gaming firm Nazara Technologies has received a letter of intent for the acquisition of sports entertainment company Smaaash Entertainment, which is currently undergoing an insolvency process. The committee of creditors of Smaaash Entertainment has approved Nazara's resolution plan, pending approval from regulatory authorities. In addition, Nazara has also acquired UK-based gaming studio Fusebox Games for Rs 228 crore ($27.2 million). These acquisitions are part of Nazara's broader strategy of expanding its presence in the gaming and esports industry.
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Nazara expands M&A war chest; to buy Smaaash, UK gaming studio
VCCircle
·
1y ago
Medial
Mumbai-based gaming and sports media company, Nazara Technologies, has announced plans to increase its budget for mergers and acquisitions in order to expand its global presence. Initially allocating $100 million for M&As, Nazara will now spend more than planned as it aims to build its position in the global market. The company has already acquired Smaaash, a leading entertainment and gaming company in India, and a UK-based gaming studio.
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Nazara Buys Paper Boat Apps For INR 300 Cr To Boost Kiddopia’s Global Expansion
Inc42
·
1y ago
Medial
Nazara Technologies has announced its plans to acquire Paper Boat Apps (PBA), the developer and publisher of the popular children's learning app "Kiddopia". Nazara will pay INR 300 crore in cash in tranches to acquire 100% ownership of PBA. Additionally, Nazara is considering merging PBA into its operations to gain access to "Kiddopia" and its gamified learning IP.
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Kiddopia lends Rs 75 Cr to Nazara UK
YourStory
·
9m ago
Medial
Nazara Technologies UK, a subsidiary of Nazara Technologies, has signed a loan agreement with Kiddopia Inc., a subsidiary of Paper Boat Apps. Kiddopia will provide Nazara UK with Rs 75 crore for business purposes and loan repayment. Nazara Technologies also recently entered into a share subscription agreement, raising Rs 220 crore through the issuance of equity shares to various investors, including SBI Funds Management. Additionally, the company plans to raise around Rs 900 crore through a preferential issue of equity shares to acquire a larger stake in Absolute Sports Private Limited.
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Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates
Entrackr
·
6m ago
Medial
Nazara raises Rs 495 Cr from Arpit Khandelwal and Mithun Sacheti-led Axana Estates Nazara Technologies Limited has raised Rs 495 crore (nearly $60 million), led by Axana Estates LLP, whose designated partners include Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP, and Mithun Sacheti, founder of Caratlane. This strategic partnership aims to propel Nazara toward global gaming leadership by leveraging the collective expertise and resources of its new investors alongside its existing promoters, Vikash and Nitish Mittersain. Post-investment, Axana Estates will acquire approximately a 5.40% stake in Nazara, subject to shareholder and regulatory approvals. Moreover, Plutus Wealth Management LLP and Axana Estates LLP, in collaboration with Persons Acting in Concert (PACs), have announced plans to launch a public open offer to acquire an additional 26% stake in Nazara Technologies Limited. The new investment will support the company's growth through strategic acquisitions and market expansion. The transaction also strengthens Nazara's mobile gaming portfolio with the acquisition of two popular mobile game IPs, 'CATS: Crash Arena' and 'King of Thieves,' from ZeptoLab for $7.7 million (Rs 67 crore). This move bolsters Nazara's position in the global mobile gaming market, with the titles to be published under the "Nazara Publishing" banner. In the September quarter (Q2 FY25), Nazara Technologies reported a 7.3% year-on-year increase in revenue to Rs 318.94 crore, while its profit grew by 10.85% to Rs 21.97 crore.
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Nazara games subsidiary to acquire Ultimate Teen Patti IP from Games24x7
Economic Times
·
1y ago
Medial
Gaming company Nazara Technologies is set to acquire the intellectual property rights for the popular card game Ultimate Teen Patti for Rs 10 crore. The acquisition will be conducted by its subsidiary, Next Wave Multimedia, and will further expand Nazara Technologies' presence in the casual freemium gaming market. Ultimate Teen Patti, launched in 2015, is a free card game that doesn't involve real money. The deal is expected to be finalized within 90 days.
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Nazara To Make Its Biggest Bet Of INR 982 Cr In Pokerbaazi Parent
Inc42
·
10m ago
Medial
Nazara, a startup, has entered into an agreement to acquire a 47.7% stake in Moonshine Technology, the parent company of online poker platform Pokerbaazi. This acquisition will enhance Nazara's presence in the online gaming industry and make Moonshine a subsidiary of Nazara. Moonshine Technology has several subsidiaries, including Ross Technologies, Baazi Networks, Baazi Games, and SBN Gaming Network.
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Husband-wife duo earn ₹300 crore after selling Kiddopia stake to Nazara
YourStory
·
1y ago
Medial
Anupam and Anshu Dhanuka, the husband-wife duo who founded Kiddopia, are set to earn ₹300 crore after selling their stakes to Nazara Technologies. Nazara has said it will acquire the remaining 48.42% stake in Kiddopia's parent Paper Boat Apps in an all-cash deal. The Dhanukas founded the subscription-based app designed for children aged 2 to 7 over a decade ago.
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Nazara Invests INR 4.74 Cr In Global Gaming VC Funds
Inc42
·
1m ago
Medial
Nazara Technologies has invested INR 4.74 crore in two international gaming venture capital funds, Play Venture Fund III and F4 Venture Fund I, focusing on early-stage gaming startups. The investment positions Nazara as a limited partner in these funds. This move follows a recent announcement that Nazara's subsidiary, Nodwin Gaming, has extended its timeline to acquire a significant stake in esports content platform AFK Gaming.
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