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Thursday, April 25, 2024

Nazara Tech commits $100 million to use smart M&A to further its worldwide development

<p>Nazara Technologies, a leading player in online gaming, said on Wednesday that it has committed to investing $100 million, or about Rs 830 crore, over the course of the next 24 months to drive its worldwide development via strategic M&A.</p>
<p><img decoding=”async” class=”alignnone wp-image-503994″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-nazara-tech-commits-100-million-to-use-smart-mampa-to-further-its-worldwide-develo-750×500.png” alt=”theindiaprint.com nazara tech commits 100 million to use smart mampa to further its worldwide develo” width=”994″ height=”664″ title=”Nazara Tech commits $100 million to use smart M&A to further its worldwide development 9″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-nazara-tech-commits-100-million-to-use-smart-mampa-to-further-its-worldwide-develo-750×500.png 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-nazara-tech-commits-100-million-to-use-smart-mampa-to-further-its-worldwide-develo-1024×683.png 1024w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-nazara-tech-commits-100-million-to-use-smart-mampa-to-further-its-worldwide-develo-768×512.png 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-nazara-tech-commits-100-million-to-use-smart-mampa-to-further-its-worldwide-develo.png 1200w” sizes=”(max-width: 994px) 100vw, 994px” /></p>
<p>The business said that it is searching for new opportunities in the esports, ad tech, and gaming sectors, with an emphasis on well-known gaming properties and studios as well as those developing cutting-edge technologies such as web3, virtual reality (VR), and artificial intelligence (AI).</p>
<p>Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, stated in a statement, “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.”</p>
<p>“This potential will be significantly enhanced for us in that direction by the $100 million donation. With an emphasis on the 500 million gamers in India and the sizable North American market, we are very interested in investing in and purchasing gaming studios across the world,” he said.</p>
<p>This development follows Nazara Technologies’s Rs 760 crore fundraising from well-known investors, including Plutus Wealth Management, ICICI Prudential MF, SBI Mutual Fund, and Nikhil Kamath, the co-founder of Zerodha. According to the firm, it will see substantial growth in the next years.</p>
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