Nazara Technologies' board approves five investments worth Rs 196 cr

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Nazara Technologies' board approves five investments worth Rs 196 cr

^{Published on 2024-12-02 11:34:27 - Michael Jones, N@N}

Gaming and sports media firm Nazara Technologies' board has approved five investments worth Rs 196 crore, including 100 per cent acquisition of stake in Sportskeeda owner firm Absolute Sports, the company said in a regulatory filing on Monday.

Nazara Technologies' board has approved investments totaling Rs 196 crore across five different ventures. This includes Rs 41 crore in Kofluence, a social media influencer marketing platform, Rs 10 crore in a new game publishing venture with Snax Games, and Rs 126 crore in Nextwave Multimedia, which develops the FAU-G game. Additionally, they plan to invest Rs 10 crore in a new real money gaming (RMG) studio and Rs 9 crore in a casual RMG card games studio. These investments aim to expand Nazara's presence in the gaming and digital entertainment sectors, leveraging both existing and new market opportunities.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/companies/news/nazara-technologies-board-approves-five-investments-worth-rs-196-cr-124120201147_1.html ]

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