Nazara Technologies acquires Publishme for INR 20Cr
Nazara Technologies Ltd, a Gaming and sports media platform has acquired a majority stake of 69.82% in Publishme (Turkey and West Asia-based mobile gaming publishing agency).
With an acquisition value of INR 20 Crores, such acquisition of the majority stake was done by the way of primary and secondary transactions.
Nazara Technologies aims to improve its international footprint, especially in the regions of Turkey and other West Asian countries with this move. The company can tap into an untouched market in addition to its markets in countries like India, North America, and Africa.
According to statements made by Nazara Technologies’ CEO Manish Agarwal, the company will look to build local execution capabilities cutting across key growth segments such as freemium models, gamified learning, and esports.
This is Nazara’s first acquisition after being the first publicly listed gaming company back in March 2021 and also being backed by billionaire investor Rakesh Jhunjhunwala.
Nazara Tech currently holds majority stakes in some of the whales of the gaming industry such as Nodwin Gaming, SportsKeeda, and Next Wave Multimedia- developer of World Cricket Championship (WCC), which is the world’s largest mobile-based cricket simulation game
The company also hopes to expand the market and user base of the companies where it holds a majority stake, through this acquisition.
In its draft red herring prospectus, Nazara ahead of its IPO is said to hold about 40.17 Mn (4 Cr) monthly active users for the financial year 2020 with an average of 49.25 (4.9 Cr) monthly active users across all games for the six months till September 30, 2020.
According to the analysis by Inc42, India is said to hold a market size of $1.2 bn and hold the sixth position in the global mobile gaming market. The leading countries of the world in the gaming industry are – the US, Japan, South Korea, the UK, and China at the helm of it all.
With millions more coming under the umbrella as internet and smartphone penetration, India’s mobile gamer base has already grown to 326 Mn mobile gamers
an app market data intelligence company, 42 Matters, India is home to 3% of the total game publishers on the store, which is 5.4K game publishers.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.
For publishing an advertorial article about your company on our website, drop an email at firstname.lastname@example.org