Nazara Technologies

The deal, valued at INR 7.6 crores, involves a mix of cash and a stock swap, with NODWIN Gaming already owning the remaining 7 per cent prior to this acquisition

Nazara Technologies increased its stake in Nextwave Multimedia to 74.88%, investing INR 2.3 crore. It plans a second tranche acquisition for INR 19.33 crore, further expanding its gaming sector footprint.

The raised funds will be primarily allocated to fuel NODWIN Gaming's ongoing expansion momentum, focusing on enhancing its capabilities, growing its portfolio of intellectual properties (IPs), and strengthening its presence in emerging markets.

The raised amount is going to be invested in Funky Monkeys, Learntube.ai, and subsidiaries including Nodwin Gaming, Sportskeeda, and Datawrkz, bolstering gaming, education, and entertainment ecosystem for strategic growth.

The allotment has received in-principle approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with final approvals for listing and trading expected shortly.

Kiddopia will disburse INR 75 crore (approximately GBP 6.8 million) to Nazara UK in one or more tranches. This internal funding is earmarked for business purposes and the repayment of existing loans, all in accordance with applicable laws.

Under the agreement, Nazara will issue 23.5 lakh equity shares to the SBI fund at a price of INR 954.27 per share, generating a total of INR 219.99 crore.

Nazara Technologies has made strategic acquisitions in six startups since FY25, including e-sports startup STAN, Fusebox Games, Paper Boat Apps, and assets of DeltiasGaming, strengthening its gaming portfolio.

The acquisition follows Nazara's recent USD 27.2 million purchase of UK-based Fusebox Games Limited and other strategic deals, including the acquisition of Kiddopia's developer Paper Boat Apps and the IP rights of Ultimate Teen Patti.

This acquisition is part of Nazara's broader strategy to diversify and strengthen its portfolio.

With this acquisition, Absolute Sports aims to deepen its presence in the gaming and esports media publishing sector in the US region.

Up next, Nitish is looking forward to more acquisitions in the coming time

For Absolute Sports, this is their second acquisition in the US sports media sector. Absolute Sports had acquired a 73.27% stake in US-based Pro Football Network LLC earlier this year.

The gaming platform intends to use the fresh funding to fast-track its go-to-market strategy, improve platform capabilities, and widen its international presence in the US, EU, Middle East & Africa, and Asia in 2024.

The Mumbai-based startup will focus on established gaming IP's, studios and also those advancing in cutting-edge technologies like web3, virtual reality, and AI.