The merger and acquisition (M&A) landscape in India is experiencing a surge of activity. Nazara Technologies Limited, following OneVerse’s acquisition of Spartan Poker, Calling Station & BatBall11, has set aside $100 million ( INR 830 crore) for mergers and acquisitions over the next two years, aiming to expand and establish it as a key player in the gaming sector in India.
The latest plan follows the company’s INR 760 crore round via preferential allotment from notable investors such as Nikhil Kamath, ICICI Prudential MF, and Plutus Wealth Management.
The renowned gaming and sports media company plans to use the funds to set up gaming IPs, studios, and innovative technologies like web3, virtual reality, and artificial intelligence (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.
Nazara’s revenue breakdown highlights India as its primary market, contributing to over 46%, followed by North America (38%) and the rest of the world (16%) for the first nine months of FY24.
Going forward, Nazara plans to deepen its presence in existing segments rather than diversifying into new verticals. Acquiring gaming-centric ad-tech firms and media planning agencies aligns with the company’s goal of expanding its presence and cementing its position in developed markets.
To leverage India’s fast-growing gaming landscape, Nazara launched its publishing unit last October with the aim to roll out over 20 games across various platforms. Additionally, Nazara also ventured into influencer marketing, acquiring a 10.77 % stake in Kofluence to enhance its game portfolio’s visibility across social media platforms.
Nazara’s portfolio includes popular entities like Nodwin Gaming in the esports space, Sportskeeda and Pro Football Network in the sports media space. The company’s offerings across the interactive gaming segment include gamified early learning products like Kiddopia and Animal Jam, both global leaders in their respective segments. Through strategic investments and a focus on emerging technologies, Nazara aims to continue its growth trajectory in the dynamic gaming ecosystem.
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