Listed gaming and media firm Nazara Technologies acquired a 15.86% stake in esports community platform Stan for Rs 18.4 crore ($2.2 million) in cash from its existing investors.
The investment was made through Nazara’s wholly owned subsidiary, Nazara Dubai FZ, the company said in a news release Wednesday.
Founded by Parth Chadha, Nauman Mulla and Rahul Singh, Stan is an esports fan engagement startup that enables gamers to connect and support content creators with various tools.
As of July 2024, Stan had more than 12 million users, with over 80% of them coming through organic and referral-based channels, Nazara said. Currently, the platform has more than half a million paying users.
“Nazara’s investment in Stan strengthens our position in the rapidly growing gaming and esports landscape. Stan’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” said Nitish Mittersain, founder and chief executive of Nazara Technologies.
In recent months, Nazara has made several acquisitions, particularly through its esports and events arm, Nodwin, including events firm Comic Con India, West Asia and Turkey-focused marketing firm Publishme, Singapore-based events firm Branded and Turkish esports and gaming firm Ninja Global.
It has also acquired UK-based gaming studio Fusebox Games and Kiddopia’s developer Paper Boat Apps, among others. Additionally, Nazara’s unit Absolute Sports acquired all assets of US-based gaming content firm Deltias Gaming for Rs 7.5 crore, as reported by ET on August 6.
“Nazara’s investment will be a major boost for Stan, fast-tracking our journey to redefine gaming and esports communities, and help us achieve our vision,” said Chadha.
On March 13, ET reported that Nazara was setting aside about Rs 830 crore for mergers and acquisitions in markets like India, Europe and North America.
For the first quarter of fiscal year 2025, Nazara reported a 13% increase in net profit to Rs 23.6 crore, even as revenue fell 1.7% to Rs 250 crore.
Source: Economic Times