Nazara expands through acquisitions with investments in Funky Monkeys and LearnTube
Nazara Technologies, an Indian gaming and sports media company, is making moves in mergers and acquisitions by acquiring stakes in Funky Monkeys Play Centers and LearnTube. For $5.24 million, Nazara has obtained a 60% stake in Funky Monkeys, while also investing $500,000 to acquire a 4.7% stake in LearnTube, a Google-backed AI-powered learning platform.
Moreover, Nazara is boosting investments in its subsidiaries by investing $17.74 million. This includes injecting $7.5 million into Nodwin Gaming to expand its intellectual properties and market presence. The company is also set to invest $8.2 million to acquire full ownership of Sportskeeda and $1.8 million in Datawrkz to support its growth strategy.
According to Nazara’s CEO and joint MD, Nitish Mittersain, these investments are part of the company’s commitment to building a leading gaming and entertainment platform in India. The co-founders of Funky Monkeys expressed confidence in scaling their business with Nazara’s expertise, while LearnTube sees the collaboration as an opportunity to innovate on a global scale.
Nazara recently secured $100 million from a preferential issue to continue its acquisition and investment activities. This comes after a $108 million raise in September. Some of Nazara’s recent deals include a $117 million investment in PokerBaazi and the acquisitions of Fusebox Games, Norian Games, and Xigma Games.
These strategic moves highlight Nazara’s focus on growth and diversification within the gaming and entertainment sector. Stay tuned for more updates on Nazara’s exciting developments in the industry.
