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Nazara Tech makes its first acquisition after listing
Nazara will pick up a 69.82% stake in the company, as it looks to strengthen its presence in the Middle East and North Africa (MENA) region.
In its first acquisition after going public in March, Nazara Technologies Ltd has signed a binding term sheet to acquire Middle East- and Turkey-based mobile gaming publishing agency Publishme for $2.7 million, through a primary and secondary transaction.
Nazara will pick up a 69.82% stake in the company, as it looks to strengthen its presence in the Middle East and North Africa (MENA) region.
“We operate across key gaming segments of premium e-sports and gamified learning. Now, if any of these entities will have to expand their footprint into newer geographies, they would like to acquire execution capabilities. Hence, if we have to expand in MENA, we will need publishing and the Publishme acquisition helps us in this strategic growth,” said Manish Agarwal, chief executive officer of Nazara Technologies, in an interview.
“For the content to succeed, one has to understand the local culture, whether it is relating to the content itself or for marketing of the content,” he added.
Publishme is a full-service games marketing and publishing agency, which works extensively with gaming firms and brands in Turkey and the MENA region.
The company has been present in MENA through telecom subscriptions, but now wants to offer its freemium gaming, e-sports and gamified learning offerings in the region.
The firm is actively looking to acquire and is expected to make international buyouts to push the key offerings in new markets.
“For India, we will acquire businesses to build capabilities, while maintaining market leadership and going deeper in gaming categories where we already have a presence. This includes real-money gaming, cricket simulation and e-sports, for instance [...] While the acquisition focus is on profitable businesses, we are ensuring to not over concentrate our profits and revenues on one segment,” he added.
