Nazara Technologies Announces 10.77% Stake in Influencer Platform Kofluence
Nazara Technologies Limited, an India-based diversified gaming and sports media platform, announced that its board has approved a share swap with certain existing Kofluence investors to acquire a 10.77% stake in Kofluence Tech Private Limited. It is anticipated that the acquisition of stakes will aid Nazara in creating a platform for influencer-led game discovery.
Acquisition of a Minority Interest in Influencer MarTech Platform Kofluence
Nazara Technologies is proposing to issue 3,71,637 shares at a price of INR 872.15/- per equity share, aggregating to INR 32.41 crore, as a preferential issue on a private placement basis to the seller in connection with the share swap transaction.
What does Kofluence do?
Kofluence is the top marketing-tech platform for social media influencers in India. It boasts over 600,000 registered creators across 20+ languages on Instagram, YouTube, Facebook, LinkedIn, and Twitter. Kofluence is a full-stack marketing platform that focuses on generating awareness, interest, desire, and action to meet performance metrics. Kofluence has assisted brands in leveraging social media creators to create value, having worked with more than 500 prestigious clients in 20+ sectors.
Influencer-led Social Game Discovery Platform
Nazara Technologies and Kofluence plan to launch an influencer-driven game discovery platform. Influencer marketing will be employed in this project to advertise Nazara’s games across multiple social media channels. Influencers can customize their content to the tastes of their followers, generating excitement about new releases and encouraging downloads. This strategy helps Nazara break into a variety of market niches by increasing the visibility of its games, enabling targeted marketing, and providing direct performance feedback.
Here’s what they said
Nitish Mittersain, Jt. MD & CEO of Nazara Technologies said,
Kofluence is pioneering creator economy led platforms and Sreeram’s extensive gaming experience is invaluable to create a pioneering influencer led game discovery platform and community. Our goal is to create an environment where gaming collaborates with the creativity of influencers, enriching the gaming experience for a global audience. Our new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative”
Sreeram Reddy Vanga, Co-founder, and CEO of Kofluence stated,
Nazara’s investment is a powerful validation of our joint mission to revolutionize the gaming industry. With our extensive network of over 600,000 creators, we’re well-positioned to greatly enhance the visibility and engagement of Nazara’s gaming portfolio. This partnership is not only expanding Nazara’s game reach but also reshaping game marketing dynamics, bringing every creator and user into an expansive and captivating gaming narrative.
Read More: Nazara Technologies Partners with 4 Gaming Studios to Publish 5 Games
Nazara Technologies Partners with 4 Gaming Studios to Publish 5 Games
Nazara Technologies, a leading player in online gaming, has announced that it has partnered with four renowned Indian game studios to release five games in India, categorized as casual and mid-core. The initiative aligns with the gaming industry’s promotion of the Made in India vision. The news comes nearly two months after Nazara unveiled its new publishing division.
4 shortlisted studios
Nazara Technologies has chosen five creative games for publication as part of the partnership, offering Indian game developers strong support and distinctive experiences.
- Gravity Shooter, a 2D action game from Smash Head Studios
- World Cricket League, a 3D multiplayer cricket game from Wandermind Labs
- Hacked: Password Puzzle, a puzzle from Pixcell Play
- Laser Tanks, a role-playing game, and Paperly, physics-driven gameplay from ATG Studios.
The new Nazara SDK’s cutting-edge artificial intelligence (AI) tools, which are integrated throughout Nazara Tech’s publishing division, will foster the expansion and advancement of game developers. This calculated action is in line with the company’s objective of developing homegrown talent and assisting in the expansion of the gaming sector in the nation.
Nazara Tech’s expansion in the international gaming sector
Nazara Technologies launched Nazara Publishing, its publishing division, in October intending to leverage India’s growing potential as a global center for gaming. The gaming major intends to collaborate with international developers to localize and distribute games created in India, as well as publish games created by Indian developers worldwide through this division. Game developers in India and around the world have responded very well to Nazara Publishing since its founding. The Indian gaming major provides both monetary investment and all-encompassing assistance, which includes user acquisition, mentoring, and live operation knowledge.
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Financial commitments toward the Indian gaming market
The company stated that during the next 12 to 18 months, it intends to release up to 20 games for mobile, Web3, virtual reality (VR), and PC, with an investment ranging from INR 1 crore to INR 3 crore per game. Additionally, Nazara Technologies will help developers with game design, localization, data analytics, beta testing, quality assurance, and strong distribution through strategic platform partnerships and user acquisition expenditures. Industry leaders and experts, such as Akshat Rathee, co-founder of Nodwin Gaming, Sudhir Kamath, founder of Nazara Technologies, and founder of Nazara Technologies, Nitish Mittersain, will be available as mentors to developers.
Additionally, the business has established a specific website for game developers who are interested in working with Nazara to publish their works on PC, VR, Web3, and mobile devices. Through platform partnerships, it will help developers with game design, localization, data analytics capabilities, quality assurance, beta testing, advanced monetization, and prudent user acquisition spending in addition to strong distribution.
Nazara Publishing Unit
Speaking about the new alliance, Nitish Mittersain, Jt. Managing Director and CEO of Nazara Technologies expressed his excitement about the partnership and emphasized the company’s dedication to providing Indian game developers with strong support and distinctive gaming experiences. Additionally, he said that the Nazara Publishing unit will support the advancement of game developers with the new Nazara SDK’s cutting-edge AI-led tools. The company operates a gaming and sports media platform and is present in India as well as other emerging global markets like North America and Africa.
Acquisitions and Partnerships
Nazara Technologies has strengthened its product line in recent years by strategically acquiring businesses such as SportsKeeda, Nodwin, and others. Additionally, the business raised its majority ownership of mobile game developer Nextwave earlier this year. The success of Nazara Technologies can be attributed to its flexibility, strategic vision, and in-depth knowledge of the Indian gaming market.
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Nazara Technologies announces Nazara Publishing, its game publishing arm
Gaming and sports media company Nazara Technologies has launched Nazara Publishing, a new division dedicated to game publishing. Its goal is to release high-caliber games for the Indian and global markets. Nazara intends to work with multiple Indian and international developers to modify and release these titles for the vast Indian gaming market. Additionally, they will make it easier for games made by Indian developers to be published worldwide. The games will be available for PCs, virtual reality (VR), mobile devices, and the web3.
Nazara Publishing – the novel game publishing arm
The gaming industry in India is fortunate to have Nazara Publishing on board. The company helps developers with things like game design, localization, data analytics, quality assurance, beta testing, and distribution in addition to monetization. This is accomplished through platform partnerships and wise user acquisition spending. Developers will also have access to mentors who are leaders and experts in the industry through the Nazara Publishing platform. The overall goal is to help game studios not only launch games successfully but also overcome obstacles, grow faster, and leave a lasting impression on the Indian gaming industry. Nazara offers the top esports platform in India, Nodwin, along with PublishME for the Turkey/MENA market, Sportskeeda, and Pro Football Network for sports media.
Key Benefits of Nazara Publishing for Game Developers
- Financial Commitment: Nazara Publishing plans to release up to 20 games in the next 18 months, with a minimum investment of INR 1 crore per game. It will assist developers in covering their expenditures.
- Expertise: Developers will have access to knowledge about game publishing, marketing, and distribution thanks to Nazara Publishing.
- Comprehensive Network: Nazara Publishing has a robust gaming industry partner network that will enable developers to reach a larger audience.
- Promotion: Nazara Publishing is dedicated to providing worldwide exposure to Indian game developers.
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India’s maturing gaming market
The development takes place at a time when user behavior and gaming habits indicate that India’s gaming market is developing. The industry is about to undergo a shift in terms of size and willingness to pay. This is motivating local studios to try and make games that are bigger, better, and more intricate so they can eventually compete with their global counterparts.
In Asia, India’s video game market is expanding at the quickest rate. It is anticipated that in 2023, gamers’ revenue from PC and mobile games will total $868 million. In FY22, revenues from the online gaming sector in India amounted to $2.6 billion. Moreover, it is anticipated to grow at a 27% CAGR to $8.6 billion in FY27.
Nazara Technologies’ investment secured
The Nazara Tech Board authorized the issuance of equity shares at a face value of INR 4 each. The goal is to raise up to INR 410 crore from SBI Mutual Fund in September. On July 10th, the board gave its approval to a proposal to issue equity shares in order to raise up to INR 750 crore. By investing INR 4.15 crore in Israel-based game developer Snax Games Ltd. in August, the company was able to acquire five-year exclusive rights to publish its games in the Middle East and India. Already publishing titles like World Cricket Championship, Animal Jam, and Kiddopia, the company’s revenue in FY23 came from these games alone.
Here’s what they said
Nitish Mittersain, CEO and Joint MD, of Nazara Technologies said,
Nazara Publishing is poised to revolutionize India’s gaming landscape, aiming to become the country’s premier game publishing platform. We are dedicated to nurturing both Indian and global game developers, providing resources, expertise, and a robust network to bring top-tier gaming experiences to India’s vast audience. With a special focus on supporting Indian developers, Nazara sees a significant opportunity in the Make-in-India initiative, and as part of this initiative, we will also promote Indian game developers globally.
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