Nazara Technologies Gears Up for Global Gaming Domination

Nazara Technologies CEO Nitish Mittersain
Preeti Bali / 7:34 am / March 14, 2024

Nazara Technologies Limited, a prominent Indian gaming and media company, is poised to conquer the international gaming market. The Mumbai-listed firm, renowned for its popular mobile game series “World Cricket Championship,” has pledged a substantial investment of US$100 million towards global expansion over the next two years.

This bold move follows a successful US$90 million fundraising initiative achieved through a preferential allotment of Nazara’s shares. The company intends to utilize these funds to solidify its presence on the world stage. Strategic mergers and acquisitions are a key component of this strategy, with a particular focus on acquiring established gaming intellectual properties (IPs) and studios.

Building on a Proven Acquisition Strategy

Nitish Mittersain, CEO of Nazara, emphasized the company’s commitment to its proven “acquire and scale” strategy. This approach has yielded positive results in past acquisitions, such as the esports company Nodwin Gaming, the sports media platform Sportskeeda, and Paper Boat Apps, the developer of the educational app Kiddopia.

Targeting Key Markets and Demographics

“We are particularly interested in investing in and acquiring gaming studios globally,” stated Mittersain. “Our focus is twofold: capitalizing on India’s massive gaming population of 500 million players, and establishing a strong foothold in the expansive North American market.”

Riding the Wave of a Booming Industry

Nazara’s ambitious expansion plans align perfectly with the projected growth trajectory of the global gaming industry. According to a report by PricewaterhouseCoopers, the industry is expected to reach a staggering value of US$321 billion by 2026. Furthermore, Nazara has already established a strong financial foundation, having raised a total of US$253 million in disclosed funding. The company also launched a dedicated game publishing arm late last year, showcasing its commitment to comprehensive industry participation.

With a current market capitalization of 48.3 billion rupees (approximately US$583 million), Nazara Technologies Limited is well-positioned to become a major player in the global gaming landscape. The company’s strategic investments, combined with its proven acquisition strategy and focus on key markets, position it for continued success and industry leadership.

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