Nazara secures $108 million to strengthen mergers and acquisitions efforts

Nazara Technologies has successfully secured $108 million to fuel its merger and acquisition plans. The gaming and sports media company from India has attracted funds from SBI Mutual Fund, Junomoneta Finsol, and Think Investments. This funding has allowed Nazara to increase its stake in Absolute Sports to 91% by purchasing an additional 19.35% for $17.4 million.

According to Nazara CEO and co-managing director Nitish Mittersain, this investment highlights the confidence top-tier investors have in the company’s aspirations to create India's premier global gaming presence. "This [$108m] fundraise will be instrumental in accelerating our growth across key segments."

Recently, Nazara Technologies expanded its portfolio by purchasing Fusebox Games, a UK-based mobile free-to-play studio, for $27.2 million. Established in 2016, Fusebox Games is known for developing interactive narrative games such as Love Island, with plans to produce more titles based on international TV franchises.

For more details, visit PocketGamer and GamesIndustry.