News on Medial

Nazara Technologies to invest $100 Mn for M&A in next 24 months

Entrackr · 9m

Nazara Technologies Limited, a gaming and sports media company, has planned to invest $100 million towards mergers and acquisitions (M&A) within the next 24 months. The current plan follows a Rs 760 crore ($90 million) round via a preferential allotment from marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others. The company will focus on established gaming IP’s, studios and also those advancing in technologies like web3, virtual reality, and AI. “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. The $100 million pledge will further enhance this opportunity for it 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” said Nitish Mittersain, CEO of Nazara Technologies. Nazara’s portfolio companies include, Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. Nazara’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam which are global leaders in their respective segments.