Within the next 24 months, Nazara Technologies Limited, a gaming and sports media company, plans to invest $100 million in mergers and acquisitions (M&A).
The current plan is based on a preferential allotment of Rs 760 crore ($90 million) from notable investors, including Plutus Wealth Management, ICICI Prudential MF, and Nikhil Kamath.
The business will concentrate on well-known game IPs, studios, and emerging technologies like web3, VR, and AI.
“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. The $100 million pledge will further enhance this opportunity for it 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” said Nitish Mittersain, CEO of Nazara Technologies.
Among the businesses in Nazara’s portfolio are Pro Football Network, Sportskeeda, and Nodwin Gaming, which operate in the esports industry. Global leaders in their respective categories, Kiddopia and Animal Jam are just two examples of the gamified early learning products that Nazara offers in the interactive gaming space.
