Nazara Technologies unveiled its strategy to earmark$100 million towards mergers and acquisitions (M&A) within the next 24 months. The strategic initiative underscores Nazara’s commitment to strengthening its global foothold and catalysing its evolution into a gaming platform on the world stage.
Following a recent fundraise that garnered Rs 760 crore via a preferential allotment that attracted investors including Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others, Nazara is poised for expansion in the coming years.
The company aims to identify opportunities within the gaming, esports and adtech arenas with a particular focus on established gaming IPs/studios and also those advancing in technologies like web3, virtual reality, and AI.
“Nazara has seen 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,” Nitish Mittersain, joint MD and CEO, Nazara Technologies, said.
Nazara is an active operator in the gaming ecosystem with gaming and esports brands with a presence in India, the US and other global markets. Some of the prominent names 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.
