Nazara’s purchase of Bluetile and its in-house rewards-driven gaming platform, BestPlay, is the company’s largest acquisition to date. The total deal size could rise to $340 million
Indian companies going from zero to a billion-dollar-plus IPO in three or four years is now happening on a regular basis, said Nazara chief Nitish Mittersain.
Mithun Sacheti said he has made around 140 investments before the CaratLane exit and around 20 afterwards, though the cheque sizes have grown since. Sacheti added that he is a big fan of Groww.
Nazara Technologies CEO Nitish Mittersain said this initiative is a significant step forward in the company's strategy to help game developers with effective monetisation solutions.
The company is betting big on AI as it is focusing on merger and acquisitions. "AI is a game changer and Nazara is doubling down through optimising gaming studios," the company's founder said.
Nazara Technologies said it is scouting for investment opportunities in gaming, esports, and adtech areas with a particular focus on established gaming IPs and studios as well as cutting-edge technologies such as web3, Virtual Reality, and artificial intelligence.
Fitness goal for 2024: To lose body fat and increase muscle mass, improve stamina with HIIT and cardio.
A big focus area for Nazara Technologies is growing its portfolio of gaming IPs through acquisitions in the future.
The revenue impact on Nazara Technologies itself will be minimal since the segment contributed only a modest 5.2 percent to the company's FY23 revenue, Mittersain said.