Nazara Technologies Gears Up for Growth: $100 Million Warchest for Gaming M&A

13 Mar 2024 , 12:03 PM

On March 13, Nazara Technologies unveiled plans to allocate $100 million (approximately Rs 830 crore) towards mergers and acquisitions over the next two years. As the oldest gaming company in India, this strategic move aims to bolster its global footprint and drive expansion initiatives.

With a keen eye on growth opportunities, Nazara is actively seeking investments in the gaming, esports, and adtech sectors. The company’s focus revolves around acquiring established gaming intellectual properties (IPs), studios, and cutting-edge technologies such as web3, Virtual Reality, and artificial intelligence.

Nazara’s founder, Nitish Mittersain, emphasized the company’s specific interest in investing in and acquiring gaming studios globally, targeting India’s vast base of 500 million gamers and the significant North American market.

This decision follows Nazara Technologies’ successful fundraising endeavor, which garnered ₹760 Crore from prominent investors. Among the investors are notable names such as Nikhil Kamath, co-founder of Zerodha, along with ICICI Prudential MF, SBI Mutual Fund, and Plutus Wealth Management, signaling confidence and support in Nazara’s strategic vision.