Nazara Games invests a majority stake Nextwave Multimedia (November 2017)
Mumbai, November, 2017: Nazara Games, a global mobile gaming company, today invested a majority stake of 51% in Chennai based Nextwave Multimedia. The acquired company will continue to manage operations out of its Chennai headquarters while Mumbai based Nazara will overlook / control——————-.
Commenting on the new partnership, CEO of Nazara Games, Manish Agarwal said,
“Nazara has been looking at strategic markets in the space of sports gaming companies and developers. This acquisition fits perfectly into our strategy of extending outreach and expanding our sports format.”
He further adds, “As mobile play continues its rapid growth, Next Wave’s leadership position, great games, and established network of users makes Nazara a more meaningful player in digital gaming.”
The company strength lies in its ability to leverage Indian IPs (Intellectual properties) like Virat Kolhi, Chhota Bheem, Hrithik Roshan among others. Creating high quality games which feature on the top of the charts making Nazara the fastest growing publisher in 2016. (By downloads in India on Google Play).
Nazara has been actively pursuing investment opportunities in sports gaming companies like Mastermind Sports, Moong Labs, HalaPlay and now Nextwave multimedia. Over the past x years, Nazara has worked with x no of developers and have built x no of games ———————————————————- .
NextWave multimedia, a Chennai cricket mobile gaming company predominately focuses on developing casual & multi-player games for mobile phones and tablets with a catalogue of over 200 games with over 80 million downloads across mobile platforms. As a four year old product startup, we have established a leading cricket company with over 20 million users spending……………… hours almost equal to users spending time on social media sites like Facebook/Instagram
Quote is indicative as we don’t know the partnership details
According to Mr. P.R Rajendran, CEO, Nextwave “We will now have access to Nazara’s catalogue of well-known brands and IP’s for future mobile development. We will proceed with our long held strategy of building a large and active network of satisfied users through compelling gameplay.
He further adds, “Nazara’s expertise in developing and distributing games to a global audience will give us the needed impetus to grow along with them.”
Nazara, recently reported a revenue of Rs 220 crore and 40% CAGR over last 4 years has demonstrated its accomplishments in the fast growing mobile gaming market and is now aggressively building mobile games in the sports, soccer and cricket platforms. Nazara believes in developing games which can be globally successful offering new innovative game experiences that will attract mobile sports game fans across the world.
In addition to developing a range of branded and original mobile games, Nazara operates services such as “Games Club”. Its customers include mobile carriers as well as handset manufacturers. The company is currently present in 61 countries across the world and claims to reach out to more than two billion consumers across emerging markets in the world.