Gaming giant Nazara Technologies acquired a majority stake of 69.82% in West Asia-based gaming agency Publishme. With this acquisition, the publicly listed gaming company plans to increase its international footprint.
Publishme is expected to see a rapid growth in the coming years. The acquisition of this mobile-based game-publishing agency was done by primary and secondary transactions with an acquisition value of ₹20 crore. Publishme is led by Ozgur Ozalp and has a strong clientele including Garena, Lokum Games and MyGames. Other than this, the brand also works with several companies including RedBull, Asus, Yemeksepeti, Hepsiburada.com and Turkcell.
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This move will help Nazara Technologies to expand in Turkey and other West Asian countries. At the moment, the brand is present in the Indian, North American, and African markets. Talking about this acquisition, Manish Agarwal, chief executive officer at Nazara Technologies said, “The company will be looking to build local execution capabilities across segments such as esports, gamified learning, and freemium models.” He further added that this move will also help investee companies of Nazara to expand in the Middle East and North Africa (MENA) region.
Ozgur Ozalp, CEO of Publishme said, “With this acquisition, Publishme will become a full-fledged publisher in the MENA region which is one of the fastest-growing gaming markets in the world. MENA has a market size of $4.8 billion in total. Our alliance with Nazara provides us with a blend of a network, global reach, and well established local capabilities for the growth of the gaming industry in our region”
This is the first acquisition of Nazara after becoming India’s first and only publicly listed gaming company in March 2021. Nazara Technologies also holds a majority stake in Nodwin Gaming, Next Wave, multimedia developer of World Cricket Championship (WCC), and SportsKeeda.
Manthra Koliyer is a writer at Gutshot Magazine. She has an affinity for seeing the world through people’s eyes. With a bubbly fun personality, you can always catch her chatting with anyone she comes across. Holding an English Literature degree from Wilson College, Mumbai, and a Post Graduate Diploma in Journalism from Asian College of Journalism, this pop culture fanatic is ready to take on the world with a pen, paper, and microphone. She also actively works on her personal blog called namasteyconvict.blogspot.com, where for a moment she lets you into her drama-filled world.
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