Nazara continues M&A push with Funky Monkeys and LearnTube investments
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Dec 3, 2024 | investment | Nazara | Not applicable |
Indian gaming and sports media firm Nazara Technologies has made a series of investments and purchases as it continues to ramp up its M&A.
It has acquired a 60% stake in Indian children’s play centre Funky Monkeys Play Centers for ₹43.7 crores ($5.24m).
Nazara said it will also invest ₹4.2 crores ($500,000) to acquire a 4.7% stake in Google-backed AI-powered learning platform LearnTube.
Elsewhere, the Mumbai-based firm is increasing investments into existing subsidiaries to ₹148 crores ($17.74m). This includes pumping ₹64 crores ($7.5m) into Nodwin Gaming to expand its IPs and market presence.
Nazara will also invest ₹69 crores ($8.2m) to acquire full ownership of Sportskeeda by purchasing management ESOP shares, and ₹15 crores ($1.8m) in Datawrkz through preference shares to support its ongoing growth.
Propelling growth
“Nazara is committed to building the largest diversified gaming and entertainment platform out of India and many of our initiatives announced today are geared towards propelling profitable growth in these strategic areas of our interest," said Nazara CEO and joint MD Nitish Mittersain.
Funky Monkeys co-founders Binita Putcha and Sanjay Ghadiali added: “With Nazara’s expertise and resources, we are confident we can scale Funky Monkeys and bring even more joy to children and families across India. We also see synergies with digital IP’s owned by Nazara such as Kiddopia and will work to maximise these opportunities”
LearnTube co-founder Shronit Ladhani commented: “LearnTube’s collaboration with Nazara is a bold step forward in reshaping professional learning and interactive media. We are excited to combine forces to lead innovation on a global scale."
Nazara recently raised $100 million from a preferential issue to continue acquiring and investing in companies. That followed a $108m raise in September. Deals over the past year include a $117m investment in PokerBaazi, the acquisition of Fusebox Games for $27.2m and the recent backing of Norian Games and Xigma Games.
Companies
