Nazara Technologies is set to significantly expand its presence in the gaming and entertainment sector through a strategic investment of Rs 196 crore. This move includes acquiring stakes in five promising companies, paving the way for innovative growth and diversification across various entertainment segments. The acquisitions will strengthen Nazara's position and enhance its intellectual property portfolio, promising a bright future for the company.
In a landmark move signaling strong confidence in the future of India's gaming and entertainment sector, Nazara Technologies Ltd. has announced a strategic investment of Rs 196 crore across five promising companies. This significant investment, approved by the company's board of directors, is set to solidify Nazara's position as a diversified gaming and sports media powerhouse.
The strategic acquisitions include stakes in Funky Monkeys Play Centre Pvt., BeNinja Solutions Pvt., Nodwin Gaming Pvt., Datawrkz Business Solutions Pvt., and Absolute Sports Pvt. (Sportskeeda), a move that promises to bring diverse expertise and innovation under the Nazara Technologies umbrella. With this investment, Nazara is not only expanding its reach but also enriching its offerings in the ever-evolving entertainment ecosystem.
"Nazara is committed to building the largest diversified gaming and entertainment platform out of India, and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest," said Chief Executive Officer Nitish Mittersain, highlighting the company's vision for the future.
A key highlight of this expansion is Nazara's entry into the physical entertainment segment with the acquisition of a 60% stake in Funky Monkeys for Rs 43.7 crore. Funky Monkeys, with its 11 indoor soft play centers across India, offers interactive play experiences for children, creating a unique synergy with Nazara's existing digital IPs like Kiddopia. "We see synergies with the digital IPs owned by Nazara, such as Kiddopia, and would work to 'maximise these opportunities'," said Binita Putcha and Sanjay Ghadiali, co-founders of Funky Monkeys.
Furthermore, Nazara's investment of Rs 4.2 crore for a 4.7% stake in BeNinja Solutions, the company behind the education technology platform LearnTube, marks a bold step into AI-powered professional skilling. LearnTube, known for its 1:1 interactive and gamified learning experiences, is set to benefit significantly from this collaboration. According to Shronit Ladhani, Co-Founder of LearnTube, this partnership is "a bold step forward in reshaping professional learning and interactive media".
Nazara is also infusing Rs 64 crore into its subsidiary, Nodwin Gaming, to bolster its e-sports tournament organizing and team management capabilities. This investment will fuel Nodwin's expansion plans, enhance its intellectual properties, and strengthen its footprint in emerging markets.
Completing the circle of strategic investments, Nazara's Rs 69-crore investment in equity shares of Absolute Sports will result in Sportskeeda becoming a wholly-owned subsidiary. This move is expected to create significant synergies and further solidify Nazara's position in the sports media landscape.
The market has responded positively to these developments, with shares of Nazara closing 0.92% higher at Rs 1,010.40 apiece on the BSE, outperforming the benchmark Sensex on Monday. This strategic investment is a clear indicator of Nazara Technologies' commitment to innovation, growth, and its vision of becoming the leading diversified gaming and entertainment platform in India, promising a rewarding future for its stakeholders.
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