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Nazara Technologies

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Nazara Technologies is an Indian technology holding company that has business interests in mobile games, esports and sports media. It is based in Mumbai.

Nazara Technologies
Company typePublic
ISININE418L01021
Industry
Founded1999; 25 years ago (1999)
FounderNitish Mittersain
HeadquartersMumbai, Maharashtra, India[1]
Area served
Worldwide
Key people
  • Vikash Mittersain (Chairman and MD)
  • Nitish Mittersain (CEO and Joint MD)[2]
RevenueIncrease ₹1,138 crore (US$140 million) (FY24)[3]
Increase ₹89 crore (US$11 million) (FY24)[3]
Websitenazara.com

History

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Nazara Technologies was founded by Nitish Mittersain in 1999 as an online gaming portal. In 2002, it switched to providing mobile entertainment VAS for telecom operators, including WAP content downloads of comic strips and mobile games.[4][5][6] Early likeness rights partnerships to deliver mobile content included those with Archie Comics,[7] Sachin Tendulkar,[8] MS Dhoni[9] and Cartoon Network.[10]

Nazara later expanded mobile games VAS into the Middle East and Africa, also becoming the licensed distributor of EA Mobile's games in these regions apart from South Asian countries.[11][12]

In 2015, Nazara obtained the license from Green Gold Animations to create mobile games based on Chhota Bheem animated television series.[13] In 2016, Nazara tied up with Indian comics company Amar Chitra Katha to develop mobile games on Tinkle characters like Shikari Shambu.[14]

In 2018, Nazara acquired a majority stake in Nextwave Multimedia, a Chennai-based mobile game developer known for World Cricket Championship titles.[15] It also acquired 55% stake in esports firm Nodwin Gaming.[16] Nazara was planning to go public in 2018 and had obtained approval from the market regulators, but halted the process.[17]

In 2019, Nazara Technologies purchased a 67% stake in Sportskeeda for ₹44 crore.[17] It acquired a 51% stake in Paper Boat Apps, the developer and publisher of gamified early learning app Kiddopia, for ₹83.5 crore in the same year.[18]

In March 2021, Nazara was listed on the NSE and BSE after its initial public offering.[19] Later the same year, it acquired the Hyderabad-based real-money gaming company OpenPlay for ₹186 crore.[20]

In 2022, Nazara acquired a 55% stake in Datawrkz, an advertising technology company based in Bangalore, for ₹124 crore.[21] Later that year, it bought out the US-based kids gaming company WildWorks for $10.4 million.[22]

In 2023, Nazara Technologies joined the All India Gaming Federation (AIGF) as a principal member.[23] In 2024, Nazara acquired Comic Con India for ₹55 crore through its subsidiary Nodwin Gaming.[24]

In September 2024, Nazara Technologies acquired 47.7% stake in Moonshine Technology, the parent company of PokerBaazi for Rs 832 crore. This deal will strengthen Nazara's position as Indias dominant diversified gaming platform.[25]

Subsidiaries

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Notable subsidiaries include:[26]

  • Nextwave Multimedia in cricket simulation games
  • Kiddopia in gamified early learning
  • WildWorks in kids gaming
  • Nodwin Gaming in eSports
  • Halaplay and Openplay in skill-based games
  • Datawrkz in digital ad tech
  • Sportskeeda in eSports media

Sportskeeda

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Sportskeeda logo

Sportskeeda is a global sports and esports media subsidiary of Nazara Technologies headquartered in Bangalore, India. It features news, articles. and live coverage of sports such as cricket, association football, American football, basketball, mixed martial arts, and professional wrestling.[17][27]

In 2009, the company was founded by Porush Jain. After a few months, the company raised an undisclosed amount of funding from angel investors.[28] In 2011, an early stage venture capital funding company, Seedfund, invested ₹2.8 crore.[29]

In 2019, Nazara Technologies acquired a 67% stake in Sportskeeda for ₹44 crore, valuing Sportskeeda at ₹65 crore.[17] In 2020, during the COVID-19 pandemic, the company launched two video series: Freehit and SKlive, featuring interviews with prominent sportspeople.[30]

In May 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US.[31] In November 2022, Porush Jain resigned as CEO and Ajay Pratap Singh was promoted to take his place.[27]

In 2023, Sportskeeda acquired a 73.27% stake in Pro Football Network LLC, a US-based sports analysis website that covers the National Football League (NFL) and college football, for ₹16 crore (US$1.82 million).[32]

Games

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References

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  1. ^ Khan, Taslima (22 December 2017). "For Nazara's IPO run, a long-haul horse". The Times of India. Retrieved 24 July 2023.
  2. ^ "About - Nazara Technologies". Retrieved 26 May 2024.
  3. ^ a b "Nazara Technologies' Q4 profit shrinks to Rs 0.18 cr, revenue declines to Rs 266.2 cr". Moneycontrol. 25 May 2024. Retrieved 25 May 2024.
  4. ^ Talukdar, Tapash (23 January 2009). "Nazara: From gaming portal to mobile content". The Economic Times. Retrieved 26 May 2024.
  5. ^ Dash, Jayajit (22 September 2009). "Nazara plans new games for festive season". Archived from the original on 25 January 2021. Retrieved 24 May 2024.
  6. ^ Chettri, Diwaskar (24 January 2010). "Updated: RCOM Launches Comics On Mobile For GSM". Medianama. Retrieved 24 May 2024.
  7. ^ "Nazara, Archie Comics tie up". The Economic Times. 1 March 2005. Retrieved 26 May 2024.
  8. ^ Lohade, Nikhil (12 January 2005). "Catch Sachin on your cell". Rediff. Business Standard. Retrieved 26 May 2024.
  9. ^ "Nazara to distribute mobile content of 'Dhoni's liking'". Oneindia News. 24 February 2006. Retrieved 26 May 2024.
  10. ^ Chettri, Diwaskar (17 December 2009). "Comic VAS: Nazara Brings Cartoon Network To Mobiles". MEDIANAMA. Retrieved 26 May 2024.
  11. ^ "Nazara Extends Games Distribution Partnership With EA To The Middle East". Techcircle. 16 April 2012. Retrieved 24 May 2024.
  12. ^ "Nazara, EA sign distribution deal". ITWeb. 17 March 2014. Retrieved 24 May 2024.
  13. ^ "Nazara creates gaming franchisee with 'Chota Bheem' owner; to invest $7.6M". Techcircle. 17 August 2015. Retrieved 23 May 2024.
  14. ^ Ganguly, Shramana (19 January 2016). "Amar Chitra Katha ropes in Nazara Games to develop character- based mobile games". The Economic Times. Retrieved 23 May 2024.
  15. ^ "Gaming firm Nazara acquires majority stake in Chennai-based Nextwave". BusinessLine. 8 January 2018. Retrieved 23 May 2024.
  16. ^ Malik, Yuvraj (24 January 2018). "Nazara acquires majority stake in NODWIN Gaming". mint. Retrieved 23 May 2024.
  17. ^ a b c d "Gaming firm Nazara acquires Sportskeeda". Hindustan Times. 21 August 2019. Retrieved 6 June 2023.
  18. ^ "Nazara acquires majority stake in Paper Boat Apps". The Times of India. 17 October 2019. Retrieved 23 May 2024.
  19. ^ "Nazara Technologies shares list at 81% premium over issue price; Jhunjhunwala stake valued at Rs 656 crore". The Economic Times. Retrieved 24 July 2023.
  20. ^ Sneha Shah (28 August 2021). "Nazara Technologies acquires OpenPlay for Rs 186 crore". The Economic Times.
  21. ^ "Nazara acquires majority stake in Datawrkz for Rs 124 crore". The Economic Times. 18 January 2022. Retrieved 23 May 2024.
  22. ^ Vardhan, Gyan (30 August 2022). "Nazara acquires US-based gaming company WildWorks". Entrackr. Retrieved 23 May 2024.
  23. ^ Teena Jose (17 May 2023). "Nazara Technologies Joins All-India Gaming Federation (AIGF)". Entrepreneur India.
  24. ^ "Nazara Technologies to acquire Comic Con India via Nodwin Gaming". The Economic Times. 24 January 2024. Retrieved 26 May 2024.
  25. ^ "Nazara Tech acquires 47.7% stake in PokerBaazi parent in Rs 832 crore deal". The Economic Times. Retrieved 13 September 2024.
  26. ^ "Our Company – Nazara". Retrieved 28 June 2023.
  27. ^ a b SN, Vikas (16 November 2022). "Nazara's Sportskeeda appoints Ajay Pratap Singh as CEO; founder Porush Jain resigns". Moneycontrol. Retrieved 6 June 2023.
  28. ^ Ghosh, Aparna (20 August 2014). "Online retail: Counting on sports lovers". Mint. Retrieved 6 June 2023.
  29. ^ N. Ramakrishnan (23 September 2012). "A social way of covering sports". Business Line. Retrieved 6 June 2023.
  30. ^ Sabherwal, Simran (11 September 2020). "We want to be lean, yet grow fast: Porush Jain, Sportskeeda". Exchange4media. Retrieved 6 June 2023.
  31. ^ "Sportskeeda establishes an entity in the US; to invest USD 4 million into operations". ThePrint. 27 May 2022. Retrieved 18 November 2022.
  32. ^ Gupta, Aryaman (22 March 2023). "Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm". Business Standard. Retrieved 6 June 2023.
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