New Delhi, March 13 (IANS) Online gaming major Nazara Technologies on Wednesday said that it has pledged $100 million (around Rs 830 crore) to propel global expansion through strategic mergers and acquisitions (M&A) within the next 24 months.
The company said it is looking for emerging possibilities in the gaming, esports, and adtech industries, with a particular focus on established gaming IPs/studios and also those advancing in cutting-edge technologies like web3, Virtual Reality (VR), and Artificial Intelligence (AI).
“Nazara has seen significant success in its ‘acquire and scale’ strategy over the last few years as can be seen by the post-acquisition growth in Kiddopia, Nodwin Gaming and Sportskeeda among others,” Nitish Mittersain, Jt. MD & CEO of Nazara Technologies said in a statement.
“The $100 million pledge will further boost this opportunity for us in that direction. We are particularly focused on investing in and acquiring gaming studios globally with a specific focus on India’s 500 million gamers as well as the large North American market,” he added.
This development comes after Nazara Technologies raised Rs 760 crore from marquee investors, such as Zerodha co-founder Nikhil Kamath, ICICI Prudential MF, SBI Mutual Fund, and Plutus Wealth Management, among others. The company said it is poised for significant expansion in the coming years.
–IANS
shs/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
