On March 13, Nazara Technologies announced its plan to allocate $100 million (approximately Rs 830 crore) for mergers and acquisitions over the next 24 months. As the oldest gaming company in India, Nazara aims to bolster its global presence through strategic investments, marking a significant move towards expansion.
The company is actively seeking investment opportunities in the gaming, esports, and adtech sectors, with a specific focus on established gaming IPs and studios, as well as cutting-edge technologies such as web3, Virtual Reality, and artificial intelligence.
Nitish Mittersain, Founder of Nazara, stated, ‘We are particularly focused on investing in and acquiring gaming studios globally, with a specific focus on India’s 500 million gamers and the large North American market.’
This initiative follows Nazara Technologies’ successful fundraising round, which saw the company secure Rs 760 crore from renowned investors, including Zerodha co-founder Nikhil Kamath, ICICI Prudential MF, SBI Mutual Fund, and Plutus Wealth Management, among others.