Denis Opudo
Nazara Technologies Limited is a gaming startup that was founded by Nitish Mittersain in 2000. The company develops and publishes mobile and online games. Furthermore, it distributes important game developments like Electronic Arts. Nazara has its headquarters in Mumbai. Its offices are also found in London, Dubai, Africa and Singapore. Furthermore, it carries its operations in 61 countries across upcoming markets. Popular IPs in India such as Hrithik Roshan and Virat Kohli depends on the startup for licensing.
The company has been making profits for almost a decade since its launch. Moreover, it collected revenue worth more than over $86 million and profit above $10.3 million in 2017. The company managed to raise funding of almost $51.1 million. IIFL Special Opportunities Fund led in that funding round. Moreover, the startup has plans to develop an IPO by the end of 2018 worth $156.5 million.
ESL (Electronic Sports League) decided to invest in the startup. ESL is the world largest sporting company. Nazara plans to use the investment in expanding to the upcoming markets. Nazara also bought NODWIN Gaming and EFL went ahead to sign a license agreement with it. Therefore NODWIN Gaming will be able to organize and run ESL competitions in India. It will also be in charge of ESL media distribution rights in India.
The move will help in airing the global games to India courtesy of ESL. The focus is not only in India but to various emerging markets. Currently, Nazara is aiming at getting hold of the gaming markets in Africa, India, and some Middle East countries. In January 2018 the company bought the majority shares in NextWave Multimedia. Furthermore, it aims at strengthening its operations in virtual interacting sports type in India.
The acquisition comes after investment in HalaPlay, Truly Social, MasterMind Sports startups. It also invested in Moong Labs startup. India represents 13% of the world population that participates in online mobile gaming. Moreover, the country is amongst the top five countries for mobile and online gaming. Furthermore, the online gaming in the country will go up to $1 billion come 2021. This is according to Google KPMG data.
