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Nazara Technologies invests $8.4m in its subsidiary
Nazara Technologies has acquired a 10.26% stake in its subsidiary, Absolute Sports, for 72.73 crore rupees (US$8.4 million), raising its ownership to 81.94%.
The transaction is part of a Share Purchase Agreement signed in September between Nazara, Absolute Sports, and its founding shareholders, Porush Jain and Srinivas Cuddapah.
According to the agreement, Nazara plans to acquire a total of 19.35% in Absolute Sports for 145.47 crore rupees (US$17 million).
This investment represents the first tranche, while the remainder is expected to be paid in a future tranche.
Recent Nazara developments
| Timeline |
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13-Dec-2024 🎮 Nazara to invest $1.8m in its subsidiary for adtech growth
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06-Dec-2024 🎮 Nazara to invest $7.5m in its subsidiary for expansion
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01-Dec-2024 🎮 Nazara’s subsidiary acquires gaming content firm for $2.8m
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13-Sep-2024 🎮 Nazara acquires 47.7% of Indian gaming firm for $99m
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19-May-2023 🎮 Nazara subsidiary Nodwin Gaming raises $28m at $349m valuation
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