Nazara Technologies in talks to acquire real money gaming companies in India
Nazara Technologies Limited, a popular social gaming and e-sports company is planning to acquire multiple companies in the real money gaming space in the Indian and African region, as per the reports of Economic Times.
Reports suggest that Nazara has earmarked around Rs 50-75 crores for acquiring real money gaming companies in the two regions where it is the strongest. Sources suggest that the company is in late stage talks with the target companies and the transactions could be closed this month.
The company is taking keen interest in fantasy sports and it has already invested in sports portals like Halaplay. In the past, it has invested in real money card games like poker, teenpatti and rummy. Moreover, it has also invested in other e-sports and games companies like NODWIN, Moong Labs, Mastermind Sports and Cross Solutions. Nazara now plans to raise Rs. 1,000 crore by getting an exit to its investors through an Initial Public Offering. However, it has delayed the IPO and the process is now expected to start only next year despite receiving an approval from SEBI to its Draft Red Herring Prospectus (DRHP) in April this year. Although the representatives have declined to give further response on the mode of the prospected acquisition to the press, the development is expected to take place soon.
The venture was founded in 2000 by Nitish Mittersain. According to its official website, it is a mobile gaming company which deals in acquisition, distribution and value addition of mobile games across emerging gaming markets like Middle East, India, South East Asia and Latin America. Based in Mumbai, India, it also operates in Dubai, Africa, London and Singapore and other 61 countries. It has also licensed mobile gaming rights to popular IPs like Hrithik Roshan, Virat Kohli, Chhota Bheem among others.