Nazara raises $108m to bolster M&A activities
Nazara Technologies has raised $108m to bolster the firm's merger and acquisition activities.
Investors like SBI Mutual Fund, Junomoneta Finsol, and Think Investments have contributed to the Indian gaming and sports media firm's strategic acquisition funds, which Nazara has already put towards upping its stake in Absolute Sports to 91%, acquiring an additional 19.35% share for $17.4m.
"Nazara has demonstrated its ability to attract top-tier investors who believe in our long-term vision of establishing India’s first globally respected gaming powerhouse," said Nazara CEO and co-MD Nitish Mittersain, as reported by PocketGamer.
"This [$108m] fundraise will be instrumental in accelerating our growth across key segments."
Nazara Technologies acquired UK based Fusebox Games for $27.2 million last month.
Founded in 2016, Fusebox is a mobile free-to-play studio based in the UK. It publishes interactive story titles including Love Island, and has similar games in development based on other global television IPs.
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