NAZARA GAME PUBLISHING ARM
Sebi framework for finfluencers; Nazara's Freaks4U deal
The Security and Exchange Board of India (Sebi) has approved a regulatory framework for financial influencers. This and more today’s ETtech Top 5.
Nodwin Gaming acquires Germany's Freaks 4U Gaming for Rs 271 crore
Nodwin Gaming expanded its portfolio through acquisitions like Branded and Ninja Global. Collaborating with Freaks 4U Gaming on projects like the PUBG Mobile Global Open, the company aims for further growth in the esports and gaming marketing industry.
Nazara Tech inks deal to publish nCore’s FAU-G Domination mobile shooter game
FAU-G, which will be published through Nazara’s publishing arm, had initially seen 50 million downloads but could not stand up to competition from BattleGrounds Mobile India and FreeFire range of games.
Nazara subsidiary Absolute Sports buys entertainment news site SoapCentral for $1.4 million
SoapCentral.com provides news and other content related to TV shows and mostly focuses on the US audience.
Nazara Tech promoter sells over 6% stake in block deal
Mitter Infotech LLP sells 6.38% stake in Nazara Technologies to Plutus Wealth Management, providing liquidity for promoters while retaining control. Nazara reports 43% increase in quarterly profit after tax.
Nazara Technologies reports 43% increase in profit after tax at Rs 17 crore in Q4
Nazara Technologies reported a 43% increase in profit after tax to Rs 17 crore for Q4 FY24. Operating revenue for March fell 8% to Rs 266 crore. FY24 PAT from operations grew to Rs 89 crore. Founder Nitish Mittersain is optimistic about accelerated growth in revenue and EBITDA in FY25.
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LightFury Games secures $8.5 million funding from Blume Ventures, others
LightFury Games, a gaming startup launched by Karan Shroff, plans to utilise the new capital to develop AAA games in India and will initially focus on mobile gaming before expanding to other platforms, including consoles.
US-China competition to field military drone swarms could fuel global arms race
The planners envision a scenario in which hundreds, even thousands of the machines engage in coordinated battle. A single controller might oversee dozens of drones. Some would scout, others attack. Some would be able to pivot to new objectives in the middle of a mission based on prior programming rather than a direct order.
Nazara Technologies sets aside $100 million for acquisitions
Nazara tech managing director and chief executive Nitish Mittersain told ET in an interaction that 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.
Both Nodwin and Sportskeeda biz will grow organically & through acquisitions: Nitish Mittersain, Nazara Tech
Nazara Tech, led by Nitish Mittersain, takes a conservative approach post-IPO, awaiting clarity on taxation. They are expanding in the gaming industry, focusing on e-sports, acquisitions, and scaling businesses for long-term growth. The future of gaming looks promising with emerging technologies like Web3, VR, and AI. Mittersain says: "Our strategy is to acquire good businesses, acquire good management teams, work with them, scale up, generate cash flow, and keep redeploying that cash flow for long-term compounding."
Nodwin Gaming acquires Turkey-based esports firm Ninja Global
Ninja Global conducts tournaments, broadcasts and other esports-related activities across Turkey and the Middle East and North Africa (MENA) region.
Gaming firm Nazara Technologies raises Rs 250 crore in funding from ICICI Prudential, Nikhil Kamath
Entities related to Nikhil Kamath invested a total of Rs 100 crore, while entities related to ICICI Prudential put in Rs 75 crore. The remainder came from investment firms Plutus Wealth Management and Chartered Finance and Leasing Ltd.
Byju’s versus BCCI; Nazara’s fundraise
The company noted that the case contained both law and fact, which could only be settled via arbitration. Counsel for the BCCI, however, denied any negotiations and sought more time to consult with the Board.
Nazara looking at diverse formats within real money gaming space: Nitish Mittersain
“There is a great opportunity for a company like Nazara to acquire global studios and address the US market. It can be very profitable for us. We have an established playbook and we are kind of doubling down on that strategy. So, pretty excited about what the US market prospects are. Also, pretty excited about the Indian long-term opportunity. We have got our hands in both pies.”
PhonePe partners with Dream11, Nazara Tech, A23, MPL and other game developers for Indus Appstore
PhonePe is offering zero commissions on in-app payments in an effort to attract more app developers to build on its own app store.
Nazara Technologies posts over 50% jump in quarterly profit, revenue grows 13%
Total expenses were at Rs 288.3 crore in the latest quarter, against Rs 262.7 crore a year earlier. The biggest components of the expenses were content, event and web server expenses, which ran up to Rs 84.7 crore, against the Rs 74.1 crore incurred a year ago.
Nazara eyes tax crisis-hit real money game companies
The RMG industry is facing a tax demand of more than Rs 1.5 lakh crore, after the government decided to levy a 28% GST on deposits made by users to play a game, instead of on the winnings.
Nazara Technologies launches game publishing arm
The firm is looking to invest at least Rs 1 crore each in up to 20 games over the next 18 months. The games will be for platforms like mobile, web3, virtual reality (VR) and personal computers.
Gaming company Funstop Games secures $1.5 million funding from InfoEdge Ventures
Founded by Prashanth Vijay and Tamesh Sharma, Funstop Games claimed its games have seen over 50 million downloads and contributed over $4 million in revenues.
Nazara’s Nitish Mittersain on new publishing division, Nikhil Kamath & GST on online money gaming
“Depending on the momentum and the opportunities that we get the amount of investments can be significant. We really do believe that it is a huge opportunity in this publishing initiative going forward and both Indian developers as well as global developers can benefit from it. Also, with Nikhil Kamath coming in, I hope that we will learn a lot from their success story and how they have approached business.”
Nodwin Gaming’s Singapore unit buys marketing firm Publishme for $2 million
Nodwin Gaming's Singapore unit has acquired game marketing agency Publishme for $2 million. Previously owned by Nazara Technologies, Publishme works with publishers and brands in the gaming industry. Following the acquisition, Publishme will be renamed Nodwin Gaming in West Asia and its founder, Ozgur Ozalp, will become the chief executive of Nodwin Gaming Dubai.
Nazara Tech shares jump 7% after Singapore arm acquires PublishME for $2 million
Today's gains are on the back of a fall witnessed by Nazara shares over the past three trading sessions.
Nodwin Gaming's Singapore unit buys game marketing agency 'PublishME' for $2 million
Nodwin Gaming's Singapore subsidiary has acquired game marketing agency PublishME for $2 million, buying a 100% stake from existing shareholders Nazara Technologies Limited and Ozgur Ozalp. The integration and acquisition of PublishME will enhance Nodwin Gaming's solutions capabilities for publishers and brands.
Gaming major Krafton launches incubator programme for Indian startups
The incubator programme will enrol between six to ten “teams” every year, and offer between $50,000 and $150,000 as funding support, with “exceptional” teams getting up to $250,000.
Online gaming companies tax demand in line with legal stand: CBIC chairman
CBIC chair says will implement 28% GST regime after state laws amended, review in 6 months
eGaming companies GST tax demand in line with legal stand: CBIC chief
The Central Board of Indirect Taxes and Customs (CBIC) chairman, Sanjay Kumar Agarwal, has stated that the goods and services tax (GST) notices issued to online gaming companies are in accordance with legal provisions and will not be immediately reviewed. The government is prepared to implement the 28% GST regime for online gaming, horse racing, and casinos once all states amend their laws. The CBIC will review the tax regime in six months. Many online gaming companies have received tax demand notices running into thousands of crores, with a total tax liability estimated at around ₹55,000 crore.
Zerodha’s Nikhil Kamath invests Rs 100 crore in gaming company Nazara
Gaming and media firm Nazara Technologies on Monday said it is raising Rs 100 crore from Zerodha cofounder Nikhil Kamath, to make a push into the Indian game publishing space.
Zerodha's Nikhil Kamath invests Rs 100 crore in Nazara; Udaan CTO to exit amid rejig
Game on! Online gaming and media firm Nazara Technologies on Monday said it was raising Rs 100 crore from Nikhil Kamath, cofounder of retail stockbroker Zerodha, via an equity share issue. This and more in today’s ETtech Top 5.
Nazara Technologies to invest over Rs 4 crore in Israeli game developer Snax Games
The investment would be made via its Singapore-based subsidiary Nazara PTE Ltd, the firm said. Nazara also entered an agreement to secure exclusive publishing rights for games made by Snax Games in the Indian subcontinent and the Middle-East region for five years, on a revenue-sharing basis.
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