Nazara Technologies sets aside $100 million for acquisitions
Nazara Technologies is setting aside about Rs 830 crore ($100 million) to finance mergers and acquisitions in India, Europe and North America.
The firm’s total cash position stands at Rs 1,500 crore, including funds from its various subsidiaries, from which it is earmarking this amount for buyouts, managing director and chief executive Nitish Mittersain told ET in an interaction.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM KozhikodeIIMK Advanced Data Science For ManagersVisitOver the past few months, Nazara has raised Rs 760 crore from a slew of investors like Zerodha cofounder Nikhil Kamath, SBI Mutual Fund, ICICI Prudential Mutual Fund and Plutus Wealth Management.
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The investments will be made in larger cheque sizes ranging between Rs 100 to 250 crore, and Nazara will either pick majority stakes in the target entities or invest with a clear path to majority holding, Mittersain said. “We will strictly remain a strategic investor and not pick smaller stakes in firms.”
Nazara is targeting larger, mature businesses with strong revenues and profits for its investments, either in the game publishing sector or in adjacent sectors with robust intellectual properties (IPs). The firms should have a solid user base in North American markets, and ideally have users in markets like India too, Mittersain said.
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