Nazara Technologies, a provider of mobile gaming and sports media, announced on Wednesday that it is allocating around Rs 830 crore, or $100 million, towards mergers and acquisitions in areas such as Europe, North America, and India.
According to Nitish Mittersain, joint managing director and chief executive of Nazara Technologies, the investments will be made in larger cheque sizes ranging between Rs 100 crore and Rs 250 crore. Nazara will either choose majority stakes in the target entities or invest with a clear path to majority holding, ET was informed in an interaction.
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According to Mittersain, the company is in advanced negotiations with a few real money gaming (RMG) companies in India that it is hoping to purchase.
He stated that the corporation is allocating its Rs 1,500 crore overall cash position—which includes capital from its numerous subsidiaries—for buyouts.
Nazara has received Rs 760 crore in the last several months from a wide range of investors, including Plutus Wealth Management, SBI Mutual Fund, ICICI Prudential Mutual Fund, and Nikhil Kamath, cofounder of Zerodha.
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According to Mittersain, Nazara is aiming its investments at bigger, more established companies that generate substantial profits and income, either in the game publishing industry or in related industries with strong intellectual property.
The firms should have a solid user base in North American markets, and ideally have users in markets like India too, he said. “North America is important to us as a scale-up market where we can drive monetisation, whereas India will be an important strategic market where we will take more long-term and smaller bets,” he said.
About Nazara Technologies
Nazara Technologies Limited is a reputable mobile gaming company with its headquarters located in India With offices in Dubai, Africa, and Singapore.
With 250 members, Nazara is a formidable team with locations in Dubai and India. Our speciality is maximising revenue and boosting businesses by providing branded properties to mobile consumers in the most efficient manner possible.
