Nazara Technologies Boosts Gaming Portfolio with Major Strategic Investments

Nazara Technologies allocates Rs 196 crore for five pivotal investments, including full acquisition of Sportskeeda owner Absolute Sports. Rs 148 crore bolsters existing subsidiaries like Nodwin Gaming, while Rs 43.7 crore expands into physical entertainment with Funky Monkeys. These moves enhance Nazara's gaming and media portfolio.

Nazara Technologies, a prominent gaming and sports media firm, has greenlit five investments totaling Rs 196 crore. These ventures include the complete acquisition of Absolute Sports, which owns Sportskeeda, as revealed in a recent regulatory filing.

The firm will channel Rs 148 crore into current subsidiaries such as Sportskeeda, Nodwin Gaming, and Datawrkz to fortify its holdings and fuel their growth. Notably, Rs 69 crore will be used to buy out shares from Sportskeeda's management, thus securing 100% ownership and transforming it into a wholly owned subsidiary.

Furthermore, Nazara approved a Rs 64 crore allocation for its subsidiary, Nodwin Gaming, through the purchase of optionally convertible preference shares. Another Rs 15 crore investment in Datawrkz is intended to support its expansion. In the realm of physical entertainment, Nazara is investing Rs 43.7 crore for a 60% stake in Funky Monkeys Play Centres, integrating their online and offline gaming platforms. A smaller investment of Rs 4.2 crore will secure a 4.7% stake in Learntube.ai, enhancing its interactive learning capabilities.

(With inputs from agencies.)