Nazara Technologies Acquisition of 15.86% Stake in STAN Esports Platform
Nazara Technologies Makes Strategic Move in Esports
Nazara Technologies Limited has recently announced a significant acquisition through its wholly owned subsidiary, Nazara Dubai FZ. The company is set to acquire a 15.86% stake in GetStan Technologies Pte. Ltd (STAN), an upcoming esports community platform in India.
This acquisition will amount to approximately Rs 18.4 crore in an all-cash secondary transaction. According to Nitish Mittersain, founder and CEO of Nazara Technologies, "Nazara's investment in STAN strengthens our position in the rapidly growing gaming and esports landscape. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community."
Enhancing Community Engagement in Esports
STAN’s mobile-first approach and focus on community engagement align perfectly with Nazara's vision to become a leading player in the global esports ecosystem. Parth Chadha, CEO of STAN, stated, "Nazara's investment will be a major boost for STAN, fast-tracking our journey to redefine gaming and esports communities and help us achieve our vision."
- Investment Amount: Rs 18.4 crore
- Stake Acquired: 15.86%
- Platform: STAN esports community
This strategic move indicates a significant expansion of the esports market in India, showcasing the potential for further growth and investment in the sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.