Nazara Technologies pledges $100 Million to propel global expansion through strategic M&A

Nazara Technologies Limited (NSE: NAZARA), a leading gaming and sports media company, today unveiled its ambitious strategy to earmark US$100 million (~INR 830 cr) towards mergers and acquisitions (M&A) within the next 24 months. This strategic initiative underscores Nazara's commitment to strengthening its global foothold and catalysing its evolution into an eminent gaming platform on the world stage.

Following a recent successful 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 significant expansion in the coming years.

The company is on a quest to identify burgeoning opportunities within 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, Jt. MD & 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".

Nazara is an active operator in the gaming ecosystem with gaming & esports brands with presence in India, US and other global markets. 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.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 632.80 as compared to the previous close of Rs. 671.75. The total number of shares traded during the day was 30110 in over 2691 trades.

The stock hit an intraday high of Rs. 685.00 and intraday low of 620.00. The net turnover during the day was Rs. 19414875.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 Merger Acquisition GlobalExpansion USD100Mn