Nazara Technologies Commits Rs 830 Crore for Strategic M&A Drive to Fuel Global Expansion

About the Expansion Plans

Nazara Technologies Limited a leading gaming and sports media company has unveiled its ambitious strategy to earmark USD 100 million or Rs 830 crore towards mergers and acquisitions (M&A) within the next 24 months. This strategic initiative underscores Nazara’s commitment to strengthening its global foothold and catalyzing its evolution into an eminent gaming platform on the world stage.

Following a recent successful fundraise that garnered Rs 760 crore or approximately USD 90 million via a preferential allotment attracting marquee investors such as Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth Management among others. The company is on a quest to identify burgeoning opportunities within gaming, esports, and adtech arenas, with a particular focus on established gaming IPs/studios and those advancing cutting-edge technologies like web3, Virtual Reality, and AI.

The company is 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. Nazara is an active operator in the gaming ecosystem with gaming & esports brands; 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.

Stock Performance

In the last trading session, the stock closed at Rs 671.75. Today it opened at Rs 685 and currently, it is trading at Rs 633.65, down by 5.67%. Presently, the company boasts a market capitalization of approximately Rs 4,600 crore.

About the Company

Nazara Technologies is India’s only listed gaming & esports company with a majority ownership of several leading gaming & esports brands with a presence in India, the US, and other global markets. India’s most popular cricket simulation franchise World Cricket Championship and other wide portfolios of casual games are under the company’s portfolio.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.