M&A

M&A

Gaming major Nazara scouting for buys in Europe, US

Economic Times  

Publicly listed gaming and sports media company Nazara Technologies, which recently raised about INR 315 crore to accelerate its acquisition strategy, is actively scouting to acquire companies in Europe and the US to fill some gaps in its casual, social multiplayer, e-sports and real money gaming segments. Last week, the company raised funds from Gamnat Pte, an investment firm managed by Singapore's sovereign wealth fund GIC, and Ahmedabad-based Plutus Wealth Management. Nazara's IPO in March had a secondary share sale component of about INR 583 crore, and the company did not raise fresh funds. The new capital will help the company double down on acquisitions.