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Indian gaming powerhouse Nazara sets aside $100 million for international growth.

ByYasmeeta Oon

Mar 16, 2024
Indian gaming powerhouse Nazara sets aside $100 million for international growth.

Indian gaming powerhouse Nazara sets aside $100 million for international growth.

Mumbai, IndiaNazara Technologies Limited, a leading figure in the gaming and media sector headquartered in Mumbai, has announced an ambitious plan to expand its global footprint. The company, renowned for its popular mobile game series, World Cricket Championship, is earmarking a substantial $100 million for international growth initiatives over the next two years. This strategic move follows a successful $90 million fundraising effort through a preferential allotment of shares.

In a bid to bolster its presence on the global stage, Nazara Technologies is eyeing strategic mergers and acquisitions, focusing particularly on established gaming intellectual properties and studios. The company’s Chief Executive Officer, Nitish Mittersain, outlined the approach as an extension of Nazara’s proven “acquire and scale” strategy. This method has been instrumental in previous successful acquisitions, including esports powerhouse Nodwin Gaming, sports media platform Sportskeeda, and Paper Boat Apps, the creative force behind the educational tech app Kiddopia.

Key Highlights of Nazara’s Expansion Strategy:
  • Investment Pledge: Nazara commits $100 million to global expansion efforts.
  • Strategic Focus: Emphasis on mergers and acquisitions to enhance global presence.
  • Past Successes: Notable acquisitions include Nodwin Gaming, Sportskeeda, and Paper Boat Apps.
  • Gaming Market Outlook: Global gaming industry projected to reach $321 billion by 2026.
Fiscal YearFundraising Amount (USD)Market Capitalization (INR)
2024253 million48.3 billion

Mittersain further emphasized the company’s focus on tapping into the burgeoning gaming markets in India and North America. With India home to over 500 million gamers and North America representing a significant portion of the global gaming industry, Nazara’s targeted approach seems well-poised for success.

The global gaming market, forecasted to be valued at $321 billion by 2026 according to a report by PricewaterhouseCoopers, presents a lucrative opportunity for Nazara. Having already raised $253 million in disclosed funding, the company further solidified its commitment to the gaming industry with the launch of a game publishing arm last year.

As of the latest financial reports, Nazara Technologies boasts a market capitalization of approximately 48.3 billion rupees ($583 million), signaling strong investor confidence and a robust financial standing as it ventures into this next phase of expansion

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Featured Image courtesy of DALL-E by ChatGPT

Yasmeeta Oon

Just a girl trying to break into the world of journalism, constantly on the hunt for the next big story to share.

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