WestBridge Capital Exits NODWIN Gaming Parent Nazara Technologies in an Almost $70M Deal – The Esports Observer


India-based gaming and sports media platform and NODWIN Gaming parent company Nazara Technologies Limited announced Tuesday that Plutus Wealth Management LLP and its associates have acquired shares worth more than ₹5B INR ($68.3M USD) from a fund managed by WestBridge Capital. The transaction marks the complete exit of WestBridge Capital from Nazara, which was an early investor in 2005. 

The official announcement stated that WestBridge Capital invested a cumulative amount of ₹226M ($3.1M) in Nazara and obtained sales consideration of approximately ₹10B ($136.7M) from its investment.

Nazara Technologies is an India-based gaming and sports media platform with a presence in India, Africa, and North America. The company also owns its own IPs, including World Cup Cricket and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based fantasy and trivia games. Nazara has been an active investor in the Indian gaming ecosystem and has invested more than ₹3B ($41M) in the last five years.

 Shounak Sengupta is a staff writer for AFK Gaming.


Source link

Leave a Reply