Nazara Technologies Explained

Nazara Technologies
Type:Public
Founder:Nitish Mittersain
Hq Location:Mumbai, Maharashtra, India[1]
Area Served:Worldwide
Isin:INE418L01021
Revenue: (FY24)
Profit: (FY24)[2]

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

History

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.[3] [4] [5] Early likeness rights partnerships to deliver mobile content included those with Archie Comics,[6] Sachin Tendulkar,[7] MS Dhoni[8] and Cartoon Network.[9]

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.[10] [11]

In 2015, Nazara obtained the license from Green Gold Animations to create mobile games based on Chhota Bheem animated television series.[12] In 2016, Nazara tied up with Indian comics company Amar Chitra Katha to develop mobile games on Tinkle characters like Shikari Shambu.[13]

In 2018, Nazara acquired a majority stake in Nextwave Multimedia, a Chennai-based mobile game developer known for World Cricket Championship titles.[14] It also acquired 55% stake in esports firm Nodwin Gaming.[15] Nazara was planning to go public in 2018 and had obtained approval from the market regulators, but halted the process.

In 2019, Nazara Technologies purchased a 67% stake in Sportskeeda for ₹44 crore.[16] 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.[17]

In March 2021, Nazara was listed on the NSE and BSE after its initial public offering.[18] Later the same year, it acquired the Hyderabad-based real-money gaming company OpenPlay for 186 crore.[19]

In 2022, Nazara acquired a 55% stake in Datawrkz, an advertising technology company based in Bangalore, for 124 crore.[20] Later that year, it bought out the US-based kids gaming company WildWorks for $10.4 million.[21]

In 2023, Nazara Technologies joined the All India Gaming Federation (AIGF) as a principal member.[22] In 2024, Nazara acquired Comic Con India for 55 crore through its subsidiary Nodwin Gaming.[23]

Games

Subsidiaries

Notable subsidiaries include:[24]

Sportskeeda

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.[25]

In 2009, the company was founded by Porush Jain. After a few months, the company raised an undisclosed amount of funding from angel investors.[26] In 2011, an early stage venture capital funding company Seedfund invested ₹2.8 crore.[27]

In 2019, Nazara Technologies acquired a 67% stake in Sportskeeda for ₹44 crore, valuing Sportskeeda at ₹65 crore. In 2020, during COVID-19 pandemic, the company launched two video series Freehit and SKlive, featuring interviews with prominent sportspeople.[28]

In May 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US.[29] In November 2022, Porush Jain resigned as CEO and Ajay Pratap Singh was promoted as the chief executive officer.[25]

In 2023, Sportskeeda acquired 73.27% stake in Pro Football Network LLC, a US-based sports analysis website that covers National Football League (NFL) and college football, for ₹16 crore (US$1.82 million).[30]

Notes and References

  1. News: Khan . Taslima. For Nazara's IPO run, a long-haul horse . 24 July 2023 . The Times of India . 22 December 2017.
  2. News: Nazara Technologies' Q4 profit shrinks to Rs 0.18 cr, revenue declines to Rs 266.2 cr . 25 May 2024 . Moneycontrol . 25 May 2024.
  3. News: Talukdar . Tapash . Nazara: From gaming portal to mobile content . 26 May 2024 . The Economic Times . 23 January 2009.
  4. News: Dash . Jayajit . Nazara plans new games for festive season . 24 May 2024 . 22 September 2009. https://web.archive.org/web/20210125213504/http://www.business-standard.com/article/technology/nazara-plans-new-games-for-festive-season-109092200036_1.html . 25 January 2021.
  5. News: Chettri . Diwaskar . Updated: RCOM Launches Comics On Mobile For GSM . 24 May 2024 . Medianama . 24 January 2010.
  6. News: Nazara, Archie Comics tie up . 26 May 2024 . The Economic Times . 1 March 2005.
  7. News: Lohade . Nikhil . Catch Sachin on your cell . 26 May 2024 . Rediff . Business Standard . en. 12 January 2005.
  8. News: Nazara to distribute mobile content of 'Dhoni's liking' . 26 May 2024 . Oneindia News. 24 February 2006.
  9. News: Chettri . Diwaskar . Comic VAS: Nazara Brings Cartoon Network To Mobiles . 26 May 2024 . MEDIANAMA . 17 December 2009.
  10. News: Nazara Extends Games Distribution Partnership With EA To The Middle East . 24 May 2024 . Techcircle . 16 April 2012 . en.
  11. News: Nazara, EA sign distribution deal . 24 May 2024 . ITWeb . 17 March 2014.
  12. News: Nazara creates gaming franchisee with 'Chota Bheem' owner; to invest $7.6M . 23 May 2024 . Techcircle . 17 August 2015 . en.
  13. News: Ganguly . Shramana . Amar Chitra Katha ropes in Nazara Games to develop character- based mobile games . 23 May 2024 . The Economic Times . 19 January 2016.
  14. News: Gaming firm Nazara acquires majority stake in Chennai-based Nextwave . 23 May 2024 . BusinessLine . 8 January 2018 . en.
  15. News: Malik . Yuvraj . Nazara acquires majority stake in NODWIN Gaming . 23 May 2024 . mint . 24 January 2018 . en.
  16. Web site: 2019-08-21 . Gaming firm Nazara acquires Sportskeeda . 2023-06-06 . Hindustan Times. en.
  17. News: Nazara acquires majority stake in Paper Boat Apps . 23 May 2024 . The Times of India . 17 October 2019.
  18. News: Nazara Technologies shares list at 81% premium over issue price; Jhunjhunwala stake valued at Rs 656 crore . 24 July 2023 . The Economic Times . en.
  19. Web site: August 28, 2021. Sneha Shah. Nazara Technologies acquires OpenPlay for Rs 186 crore. The Economic Times.
  20. News: Nazara acquires majority stake in Datawrkz for Rs 124 crore . 23 May 2024 . The Economic Times . 18 January 2022.
  21. News: Vardhan . Gyan . Nazara acquires US-based gaming company WildWorks . 23 May 2024 . Entrackr . 30 August 2022.
  22. Web site: May 17, 2023. Nazara Technologies Joins All-India Gaming Federation (AIGF). Teena Jose. Entrepreneur India. en-US.
  23. News: Nazara Technologies to acquire Comic Con India via Nodwin Gaming . 26 May 2024 . The Economic Times . 24 January 2024.
  24. Web site: Our Company – Nazara . 2023-06-28 . en-US.
  25. Web site: SN . Vikas . 2022-11-16 . Nazara's Sportskeeda appoints Ajay Pratap Singh as CEO; founder Porush Jain resigns . 2023-06-06 . Moneycontrol . en.
  26. Web site: Ghosh . Aparna . 2014-08-20 . Online retail: Counting on sports lovers . 2023-06-06 . Mint. en.
  27. Web site: 2012-09-23 . A social way of covering sports . 2023-06-06 . Business Line. N. Ramakrishnan. en.
  28. Web site: Sabherwal . Simran . 11 Sep 2020 . We want to be lean, yet grow fast: Porush Jain, Sportskeeda . 2023-06-06 . Exchange4media . en.
  29. Web site: 2022-05-27 . Sportskeeda establishes an entity in the US; to invest USD 4 million into operations . 2022-11-18 . ThePrint . en-US.
  30. Web site: Gupta . Aryaman . 2023-03-22 . Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm . 2023-06-06 . Business Standard. en-US.

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