India-based Nazara Technologies Limited raises $57 million (INR 495 crores) to propel the company into Global Gaming Leadership. This round was led by Mithun Sacheti, founder of CaratLane and Arpit Khandelwal, founder and managing partner of Plutus Wealth Management LLP through Axana Estates LLP.
With Axana’s stakes increasing in Nazara, this new investment triggers a mandatory open offer. Following this investment, Axana Estates will be holding a 5.4% stake in the company.
Nazara will continue to operate independently under the leadership of Chairman & MD, Vikash Mittersain, alongside Joint MD & CEO, Nitish Mittersain.
Nitish Mittersain, Jt. Managing Director and CEO of Nazara Technologies, said:
“Nazara is set for global growth, and we are excited to partner with Arpit & Mithun, who share our vision. Their belief in our potential and expertise will help us scale new heights, positioning Nazara as a unique global gaming company from India.”
The strategic investment is poised to accelerate organic growth, fuel strategic acquisitions, and expand our footprint into exciting new markets.
Today Nazara also confirmed the acquisition of IP rights for two popular mobile games, CATS: Crash Arena and King of Thieves, from Barcelona-based ZeptoLab for USD 7.7 million (~INR 67 cr). If you do not know already, Zeptolab is known for its hit Cut The Rope IP.