Nazara Technologies has acquired a majority stake in Datawrkz for nearly Rs 60 crore. Of that, Rs 35 crore will be paid in cash, and Rs 25 crore will be paid through a share swap. In addition, Nazara has an option to acquire up to an additional 22% stake in the company. This deal is expected to be completed during Q4 FY23.
Nitish Mittersain was an entrepreneur in India who launched Nazara Technologies in Mumbai in 2000. He fought to keep the company going after the first dotcom crash but eventually lost it. However, his vision of the world of entertainment, the Internet and games kept him going.
Nazara has invested in several companies that develop video games for emerging markets. The company acquired Next Wave Multimedia, Godwin Gaming, HalaPlay Technologies, Mastermind Sports, and Planet Superheroes. In addition, it acquired a majority stake in Sports Unity, which creates the popular multiplayer quiz game Qunami.
Mittersain had an innovative idea and was one step ahead of his competitors. He invested heavily in brand campaigning and advertising to gain exposure. He knew that investors would flock to his company if it was well positioned. Mittersain even reached out to Sachin Tendulkar and convinced him to collaborate with his company. Tendulkar signed on as an ambassador for Nazara Technologies and its products. His bold strategy caused competitors to look elsewhere for business.
Before he founded Nazara Technologies, Mittersain had dabbled in many businesses unrelated to gaming. In 2004, he decided to try his hand at mobile gaming. When feature phones began to be widely available in India, Nitish saw an opportunity to make a splash in the mobile market. Nazara then launched pay-per-download Java games in partnership with telcos. It was also timed to coincide with the widespread adoption of home computers. The company partnered with Sachin Tendulkar as a brand ambassador for three years.
Nazara Technologies Limited (Nazara) is a diversified gaming and sports media platform. In addition to creating video games, the company has investments in eSports and gamified early learning ecosystems. The company has been involved in the video games industry since its inception when dial-up connections ruled the gaming industry.
The company’s revenues have grown over the last year, with revenue from esports nearly doubling. The esports and gamified learning divisions contributed nearly three-fourths of the company’s total revenue in FY21 and FY22, respectively. The company has plans to expand its network with Godwin Gaming, SportsKeeda, and other businesses.
Nazara has seen a sharp increase in profit after tax during FY22. The company’s revenue grew 37%, and India accounts for 41% of its revenue. The company also recently acquired Kiddopia, expected to start delivering products in July 2020. Nazara has also won multiple product awards, including the M-Billionth Awards and the MADDIES Silver Award for innovation.
The company is gaining traction in online gaming due to the eSports industry’s growing popularity in India. According to StartupTalky, over 365 million mobile gamers are currently in the country. And that number is predicted to grow significantly over the next several years.
Web3 gaming is a new type of gaming that decentralizes all aspects of the gaming ecosystem. It utilizes blockchain technology to build its games and allows players to decide how their games evolve. The technology also lays the groundwork for play-to-earn for players. This new form of game-play allows players to earn cryptos, assets, and more while they play. This allows players to enjoy the benefits of a pay-to-win system without incurring the risk of downtime.
Each Web3 gaming platform uses a blockchain-based digital wallet to track player progress and store different types of gaming collectibles. The wallets are also used to store in-game assets such as in-game currency. Additionally, developers can connect their gaming ecosystem to the metaverse through XR hardware. These devices have scanning sensors and haptic gloves, which allow gamers to interact with the gaming ecosystem.
Nazara Technologies plans to leverage its investments to enter the blockchain gaming space this year. It plans to launch a blockchain-based cricket game to capitalize on the growing popularity of Web3 products. The startup will also invest in Web3 through its subsidiary Next Wave Multimedia. Nazara Technologies is one of India’s largest diversified gaming companies, offering various services, including eSports and gamified early learning ecosystems.
Nazara Technologies is a leader in mobile gaming and eSports in the Indian market. The company’s portfolio includes games such as CarromClash, Kiddopia, and the World Cricket Championship. With the investment money, Nazara seeks to build a network of limited partners. This network will allow it to invest in gaming and web3 companies worldwide. It also wants to leverage the network to attract potential partners and secure deal flow for future M&A.
Nazara Technologies is India’s first pure-play gaming company. It recently acquired Published, a Turkish game publisher, and is looking to use that acquisition to grow its gaming network. The company also has subsidiaries, including Godwin Gaming and SportsKeeda. By acquiring these businesses, the company is betting on the future of esports.
Nazara is committed to creating a full eSports ecosystem for India. The company has acquired a majority stake in Godwin Gaming, an Indian gaming startup with ties to international gaming publishers like Valve and Turtle Entertainment. The company also plans to create eSports competitions in India.
Nazara also plans to invest $20 million into Indian eSports startups. It has already invested in Next Wave Multi-Media, Mastermind Sports, Hala play, and Moong Labs. The investment will create a network of synergistic companies for Indian eSports.
The company has also partnered with Electronic Arts to distribute EA games to a broad customer base in emerging markets. They also have a wholly-owned subsidiary in Dubai, which manages mobile gaming solutions for the region. They also have agreements with handset manufacturers to pre-install EA titles on their devices.
Nazara Technologies plans to conduct two seasons of Counter-Strike and DotA2 eSports tournaments annually. It hopes to add more titles to the leagues in the future. The competitions are free to join, and teams can qualify through online qualifiers. These competitions can receive massive brand sponsorships from gaming and consumer technology companies. The eSports tournaments can be streamed live similarly to football matches.
Nazara Technologies is a diversified gaming company with operations in India and the emerging world. The company’s offerings span esports, digital games, and interactive learning ecosystems. In addition to esports, Nazara also develops games for children and provides solutions to promote brands and advertising campaigns on wireless networks.
Founded when the internet was still a young tech company and dial-up connections ruled the market, Nazara began as a simple online portal for casual video games and soon expanded into a global empire that offers everything from eSports to interactive gaming to gamified early learning ecosystems.
The company, backed by Rakesh Jhunjhunwala, has filed a draught red herring prospectus for its IPO, which was later cancelled due to the market downturn. However, the company later received approval from SEBI and was listed on the NSE. Despite this short-term setback, Nazara has recently restated its loss for the fiscal year 2020 and announced a restatement of its net loss. This suggests that the company may not be able to monetize its e-sports products efficiently and may face a long period of unstable market conditions.
In FY22, Nazara Technologies reported a 37% increase in operating income and consolidated profit after tax of Rs 273.2 crore. Its esports business largely drives this. The company’s esports business is growing quickly and is projected to reach 400 million players in India by mid-2020.
Nazara Technologies is a video game developer and publisher based in India. It has a mobile game platform with over 230 million subscribers. The company recently partnered with Indian mobile service provider Vodafone Idea to create mobile games. Nazara Technologies has also strategically partnered with Bitkraft, a US-based game fund, to expand its reach into the global gaming industry.
Nazara, a gaming company based in India, announced that it had invested USD 2.5 million in US gaming venture capital firm Bitkraft Ventures. The investment consists of an $875,000 up-front investment and an additional $1.625 million over the next three years. Nazara plans to use the investment to create a network of investees and limited partner companies.