Nazara Technologies Expands into USA with New Subsidiary

On July 04, 2024, Nazara Technologies Limited announced via a stock exchange that it had incorporated a wholly owned subsidiary named “Nazara US Inc.” in Delaware, USA.

Nazara US Inc., incorporated as a wholly owned subsidiary by Nazara Technologies, is considered a related party due to its direct ownership. However, this incorporation does not constitute a related party transaction for Nazara Technologies. The promoters, promoter groups, or affiliated companies of Nazara Technologies are not interested in this transaction, so they ensure it is conducted at arm’s length.

Objective Of Acquisition

Incorporating Nazara US Inc. supports Nazara Technologies’ strategic goal of expanding its gaming business presence in the USA.

Acquisition Details

Nazara US Inc. will be fully subscribed to with cash consideration. The cost of subscribing to shares amounts to USD 1, which covers 1000 shares priced at USD 0.001 each.

In their recent press release, NODWIN Gaming (A material subsidiary of Nazara Technologies Limited) announced plans to increase its ownership in Freaks 4U Gaming GmbH to 100% through a share swap valued at ₹271 crore (Euro 30.3 million). This move aims to enhance NODWIN’s esports and agency services capabilities, expecting significant revenue contributions.

About Nazara US Inc

Nazara US Inc., a wholly owned subsidiary of Nazara Technologies, was incorporated in Delaware, USA, on July 3, 2024. As a newly established entity, it has not yet started its business operations; therefore, turnover details are not applicable. Nazara US Inc. operates within the Gaming and Entertainment Industry and is based solely in the United States of America.

About Nazara Technologies Ltd

Nazara Technologies is a leading Indian company in gaming and sports media. It operates in India, Africa, and North America, offering interactive gaming, eSports, and gamified learning. Nazara owns popular brands like WCC and CarromClash for mobile gaming, Kiddopia for learning, Nodwin and Sportskeeda for eSports and media, and Halaplay and Qunami for fantasy and trivia games. Known for pioneering eSports and cricket simulation in India, Nazara is a key player in the global gaming industry.

On July 5, 2024, the share price of Nazara Technologies Ltd opened at ₹914.00, touching the day’s high of ₹925.60 as of 12:50 PM on the NSE.

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.