Nazara Technologies is set to acquire a 69.82 percent stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for about Rs 20 crore. It is considered to be a move that will help the Indian gaming major strengthen its presence in the region. Nazara has signed a binding term sheet to acquire the majority stake in Arrakis Tanitim Organizasyon Pazarlama San Tic Ltd Sti (Publishme) by primary and secondary transaction through its subsidiary.
Nazara’s offerings are already present in India and across emerging and developed global markets such as Africa and North America. While talking to PTI, Nazara CEO Manish Agarwal explained the reason behind this investment.
“With this acquisition, we will further expand our international footprint in the freemium segment. Nazara will aim to build local execution capabilities cutting across key growth segments – freemium, gamified learning, and esports.”
Agarwal also added that the acquisition will help the company establishing itself as a key player in the region. The Friends of Nazara network comprises established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to rapidly achieve scale.
These companies include Nodwin Gaming and SportsKeeda in esports, Next Wave Multimedia (developer of World Cricket Championship (WCC) – the largest mobile-based cricket simulation game), and Paper Boat Apps (developers of the popular gamified learning app Kiddopia).
Nazara will focus on markets like Saudi Arabia, Turkey, and the UAE in the region. Publishme, led by zgr zalp – the former publishing head for emerging markets with EPIC Games – has a strong clientele like Garena, My Games, and Lokum Games. It also works with several brands in Turkey and MENA region with Turkcell, RedBull, Hepsiburada.com, KFC, Asus, and Yemeksepeti. Earlier this year, Nazara also raised close to Rs 100 crores from Hornbill Capital.