Nazara Technologies, a gaming and sports media company, unveiled its ambitious strategy to earmark US$100 million (Rs 830 cr) towards mergers and acquisitions (M&A) within the next 24 months.
Following a recent fundraise that garnered Rs 760 crore ($90 million) via a preferential allotment that attracted marquee investors such as Nikhil Kamath, ICICI Prudential MF and Plutus Wealth Management among others, Nazara is poised for expansion in the coming years.
The company is on a quest 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 cutting-edge technologies like web3, Virtual Reality, and AI.
Commenting on global expansion Nitish Mittersain, Jointbl MD and CEO of Nazara Technologies, 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."
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