Mumbai based mobile gaming company Nazara Technologies is planning for a major acquisition spree to buy promising companies across India and Africa, according to media reports. The gaming company is planning to buy at least four companies based in the domestic Indian market as well as in different African countries.
Nazara’s decision to target African market for its latest acquisition spree is least surprising given that the African continent is one of the lucrative markets for the two-decade old company.
The acquisition reports have come as the company is preparing to launch its much-anticipated IPO in February next year. The Mumbai headquartered firm is expected to raise Rs 1,000 crore through the public issue. Although the Indian markets are currently in turmoil in the wake of heavy profit booking, the company so far hasn’t hinted that it is likely to postpone the IPO launch.
Nazara is backed by quite a few high profile investors including the celebrated investor Rakesh Jhunjhunwala, IIFL and private equity firm WestBridge Capital.
Launched in 1999, Nazara Technologies has emerged as a formidable player not only in India’s mobile gaming space, but also in foreign markets like Africa, Middle East, Latin America and South East Asia.