Mobile gaming publisher Nazara Technologies is on an acquisition spree. Within two weeks of acquiring a majority stake in Nextwave Multimedia, the Mumbai-based firm has acquired another gaming startup NODWIN Gaming.
The investment amount is yet to be disclosed, but Nazara has acquired a controlling stake of 55 per cent in the Gurugram-based startup.
Launched in 2014 by Akshat Rathee and Gautam Virk, NODWIN is an equal joint venture between the e-sport startup founders and Jetsynthesys. Both Jetsynthesys and NODWIN promoters have diluted their stake in the NODWIN as part of the deal, reports Mint.
Following the acquisition, NODWIN will function as an independent subsidiary and together, the companies will focus on expanding both online and offline consumption of e-sports games in India, as well as the West Asian and African markets.
The e-sport firm has exclusive partnerships with Electronics Sports League, Esports World Convention, among others, and manages IP-based gaming events such as the ESL India Premiership, KO Fight Nights, among others.
A quick snapshot of Nazara Games
Founded in 2000, Nazara Technologies uses an artificial intelligence-based system, where the end player can experience playing like the Indian cricketer. The mobile gaming publisher is operational in more than 74 countries including India, Dubai, Singapore, and Mauritius.
Earlier this month Nazara Technologies acquired a majority stake in Chennai-based Nextwave Multimedia, a firm popular for its mobile cricket games, for an undisclosed amount.
In December last year, it raised $51 million alone from IIFL. In the same month, Veteran investor Rakesh Jhunjhunwala invested $27 million in Nazara Technologies. He has also acquired a minority stake in the company.
Prior to that, Nazara Games along with Kae Capital invested in Bengaluru-based HalaPlay, a daily fantasy sports (DFS) platform. Kae and Nazara collectively picked up 32 per cent stake in the gaming company in November.
Besides HalaPlay, Nazara Games invested an undisclosed amount in game development studio Moong Labs, a developer of 3D cricket simulation games in August.
The company is planning to launch Rs 1,000-crore IPO by the end of financial year. It has roped in ICICI Securities and Edelweiss Financial Services for the IPO launch, which could be the first public listing company in the gaming space.