Shares of Nazara Technologies rose by 3.8% to Rs 1,003 in early trade on September 12, following the company’s announcement of a $2.2 million (Rs 18.4 crore) investment in gaming community startup Stan. Nazara Dubai, a subsidiary of Nazara Technologies, acquired a 15.86% stake in Stan through a secondary transaction from existing shareholders.
Stan’s mobile-first platform allows users to engage with gaming creators and celebrities through digital collectables, chat rooms, and exclusive communities. Gamers can collect and trade NFTs of their favorite esports players, offering chances to win experiences like meetups and signed merchandise.
Nazara Technologies’ CEO, Nitish Mittersain, stated that the acquisition aligns with their vision of expanding in the global esports ecosystem and supporting content creators.
This is the second major acquisition by Nazara in recent months, following its purchase of a 48.42% stake in Paper Boat Apps Private Limited, making it a fully owned subsidiary.
Shares of Nazara Technologies have gained 14% over the past three months, continuing their upward trend.
