Nazara Technologies Strengthens Position in Esports with STAN Acquisition

Investment in Gaming Community

Nazara Technologies recently gained 3.27% in shares, reaching Rs 992.75, following the announcement of its wholly-owned subsidiary, Nazara Dubai FZ. The company entered a share purchase agreement for a 15.86% stake in GetStan Technologies (STAN) for Rs 18.4 crore or $2.2 million. STAN is recognized as a leading gaming community platform in India, dedicated to fostering a vibrant ecosystem for gamers and creators.

Focus on Mobile Application Software

With a mobile-first design, STAN emphasizes user engagement, connecting gamers and providing essential tools for content creators to thrive. As of March 31, 2024, the company's turnover was reported at Rs 15 crore. The acquisition will involve purchasing 317,333 shares for a total consideration not exceeding Rs 18.4 crore.

Statement from Leadership

Nitish Mittersain, Founder and CEO of Nazara Technologies, remarked, "Nazara's investment in STAN strengthens our position in the growing video game culture and esports landscape. STAN's mobile-first focus and community engagement align perfectly with our vision to become a leading player in this space. This acquisition allows us to extend our reach while supporting content creators and enhancing the gaming community." Meanwhile, Parth Chadha, CEO of STAN, expressed excitement over the investment, stating, "This will fast-track our journey to redefine gaming and esports communities and help achieve our vision."

Global Presence and Financial Growth

Nazara Technologies, a diversified media platform in gaming and sports, operates in India and emerging markets like Africa and North America. With a 13.23% increase in consolidated net profit for Q1 FY25, total revenue amounted to Rs 250.08 crore, despite a 1.71% decrease from the previous year.