Backed by a strong balance sheet, Nazara has been making smart inorganic moves within the gaming ecosystem
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Gaming company Nazara Technologies has been on a buying spree in recent years. Last month, it announced the acquisition of skill-gaming platform OpenPlay for a total consideration of Rs 186 crore. Since 2017, Nazara has completed several acquisitions, including Nodwin and Paper Boat (Kiddopia), which have added new growth engines to its portfolio. OpenPlay deal contours OpenPlay operates a gaming platform under the Classic Games brand that hosts fantasy sports, quiz, rummy and other games. The top line is around Rs…
