"Nazara Technologies Allocates $100 Million for Global Expansion via Acquisitions"

Nazara Technologies Limited has unveiled its strategy to earmark Rs 830 crore for mergers and acquisitions over the next 24 months. Following a recent fundraising initiative that amassed Rs 760 crore through preferential allotment, the company announced attracting investors like Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth Management.

The company's primary objective is to identify emerging opportunities within the gaming, esports, and ad tech sectors, with a specific focus on established gaming IPs/studios and cutting-edge technologies such as web3, Virtual Reality, and AI.

Nitish Mittersain, Joint MD & CEO of Nazara Technologies, highlighted the significant success witnessed through the company's 'acquire and scale' strategy, evidenced by the substantial growth post-acquisition of Kiddopia, Nodwin Gaming, and Sportskeeda, among others. Mittersain emphasized Nazara's decentralized model, enabling acquired businesses to operate autonomously under robust management, thereby providing ample bandwidth to scale the platform.

The $100 million commitment is poised to bolster this initiative further, with a particular emphasis on investing in and acquiring gaming studios globally, targeting India's 500 million gamers and the expansive North American market.

HBL