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Nazara continues acquisition spree as it buys UK-based firm for ₹247 cr
Mumbai
Digital gaming firm Nazara Technologies has acquired UK-based PC and console game publisher Curve Games for Rs 247 crore, as it looks to strengthen its global publishing capabilities.
The acquisition aligns with the company's strategy of expanding its portfolio through strategic investments in interactive gaming and sports media.
Curve Games has a strong presence in major gaming markets including North America, Asia Pacific, and Europe. The company's published titles have collectively seen over 100 million downloads. Notable games include the For the King franchise, Bomber Crew, Human Fall Flat, Wobbly Life, Badlands Crew, and Dungeons of Hinterberg.
'This acquisition deepens our capabilities, brings exceptional intellectual property (IP) into our fold, and strengthens our mission to build Nazara as a global gaming powerhouse from India. Curve will also serve as a gateway to the world for Indian game developers,' said Nitish Mittersain, chief executive officer of Nazara Technologies.
Nazara noted that the acquisition will enable cross-platform IP development.
'Nazara's ecosystem, access to emerging markets, and long-term orientation make them a strong strategic partner. We are aligned in our vision of building a leading global indie publishing platform, and we look forward to the next phase of growth together,' said Stuart Dinsey, executive chairman of Curve Games.
The acquisition adds to a series of mergers and acquisitions undertaken by Nazara Technologies, India's only publicly listed gaming company.
M&A Trail
In January this year, NODWIN Gaming, a Nazara subsidiary, received an investment of Rs 64 crore from the parent company to expand its business and intellectual property portfolio.
In September 2023, Nazara acquired a significant stake in Moonshine Technology Pvt Ltd (MTPL), the parent company of PokerBaazi, for Rs 982 crore. This included a 47.7 per cent stake acquired through a Rs 832 crore secondary transaction and Rs 150 crore in primary capital via compulsory convertible preference shares.
Around the same time, Nazara acquired a 15.86 per cent stake in esports platform GetMega (GetStan Technologies) for Rs 18.4 crore.
In FY24 alone, the company announced four acquisitions in the gaming space. These included:
- A 48.42 per cent additional stake in Paper Boat Apps, developer of the children's app Kiddopia, for Rs 300 crore
- UK-based gaming studio Fusebox Games for Rs 228 crore
- European esports company Freaks 4U Games, via NODWIN, for approximately Rs 271 crore
- Sports media subsidiary Sportskeeda's acquisition of Deltia Gaming for Rs 7.5 crore
In November 2023, Nazara raised Rs 855 crore through a preferential issue, with participation from SBI Innovative Opportunities Fund, Junomoneta Finsol, Think India Opportunities Master Fund LP, and others.
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