Nazara Technologies Limited, a gaming and sports media enterprise, has outlined a plan to invest $100 million in mergers and acquisitions (M&A) over the next 24 months.
This strategic move comes after the company recently secured Rs 760 crore ($90 million) through a preferential allotment from prominent investors such as Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth Management, among others.
Nazara Technologies aims to target established gaming IPs, studios, and those pioneering advancements in technologies such as web3, virtual reality, and artificial intelligence.
Nitish Mittersain, CEO of Nazara Technologies, highlighted the success of the company’s ‘acquire and scale’ strategy, citing notable post-acquisition growth in ventures like Kiddopia, Nodwin Gaming, and Sportskeeda. He emphasized that the $100 million investment pledge will further fortify this approach, with a particular emphasis on investing in and acquiring gaming studios globally, focusing on India’s vast market of 500 million gamers as well as the significant North American market.
Nazara’s existing portfolio includes Nodwin Gaming in the esports sector, Sportskeeda and Pro Football Network in sports media. Moreover, Nazara’s offerings in the interactive gaming segment encompass gamified early learning products such as Kiddopia and Animal Jam, which hold leading positions globally in their respective segments.
