Nazara Technologies Expands Its Footprint in Video Game Culture with GetStan Acquisition

Nazara Technologies has gained 3.27%, reaching Rs 992.75 after its wholly-owned subsidiary, Nazara Dubai FZ, entered a share purchase agreement to acquire a 15.86% stake in GetStan Technologies (STAN) for Rs 18.4 crore (approximately $2.2 million). STAN is a leading gaming community platform in India, centering on a mobile-first design that enhances user experience and fosters connections among gamers.

On March 31, 2024, STAN reported a turnover of Rs 15 crore. The acquisition includes 317,333 shares for a maximum consideration of Rs 18.4 crore, expected to be finalized within 30 days.

Nitish Mittersain, Founder and CEO of Nazara Technologies, remarked that this investment fortifies Nazara's stance in the burgeoning gaming and esports landscape. STAN’s mobile-first approach and emphasis on community engagement align with Nazara's aspirations to become a significant force in the global esports ecosystem.

Parth Chadha, CEO of STAN, expressed enthusiasm, stating that this investment will accelerate their strategy to redefine gaming communities and accomplish their vision.

Nazara Technologies is a comprehensive gaming and sports media platform with a reach extending across India, Africa, and North America, offering diverse services in interactive gaming, esports, ad-tech, and educational ecosystems.

Recently, Nazara reported a consolidated net profit of Rs 23.62 crore for Q1 FY25, marking a 13.23% increase from the previous quarter. Revenue from operations was reported at Rs 250.08 crore for Q1 FY25, a slight decline of 1.71% from the same period last year.