Friday 9 February 2018

ESL buys minority stake in Nazara

A minority stake in Nazara Technologies has been bought by Esports major ESL; ESL has also signed a license agreement with Esports gaming company Nodwin Gaming, which was recently acquired by Nazara Technologies.


ESL co-founder and CEO Ralf Reichert commented, “Our goal is to bring esports to the players and fans all around the world. We believe that Nazara, one of the leading mobile games companies will help us in expanding our ESL operations through strategic local partnerships.”

Nazara may now exploit the expected opportunity in the esports business with ESL’s investment in Nazara and NODWIN’s securing exclusive rights of using the ESL system and platform for the next 5 years.

As per VCCircle, ESL has picked up a 1.8% stake in Nazara for Rs 26.5 crore ($4 million) valuing the firm at 1,472 crore ($230 million), ahead of the public offering.

According to Nazara Technologies CEO Manish Agarwal, “We at Nazara welcome ESL to Nazara’s family of shareholders and look forward to partner with ESL to bring global games to India and other emerging markets.”

No comments:

Post a Comment

Aadhaar leak: EPFO discontinues services provided through Common Service Centre

Following fear of Aadhaar data leak, the Employees Provident Fund Organisation (EPFO) on May 2 said it has discontinued services provided t...