Nazara technologies, a listed and leading gaming giant in gaming industry, has made a yet another move to strengthen its position in esport with its latest acquisition. The company has reported that it has acquired a 15.6% stake in GetStan Technologies Pte. Ltd (STAN) a gaming community platform that’s rapidly growing in the world of esports and gaming for $2.2 million (around ₹18.4 crores) in an all-cash secondary transaction through its owned subsidiary company Nazara Dubai FZ.
Stan was founded in 2015 by Parth Chadha, Nauman Mulla, and Rahul Singh with the goal of revolutionizing the way gamers communicate and compete. Stan is more than just an esports platform; it’s a community where gamers can make meaningful connections and compete in exciting tournaments. By offering valuable tools to content creators, Stan ensures that every aspect of the gaming experience is covered. Its commitment to fostering a supportive and interactive environment has elevated it to the top of the esports industry, enhancing how gamers and creators collaborate.
Nazara’s investment in STAN strengthens our position in the rapidly growing gaming and esports landscape. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” Nitish Mittersain, founder and CEO, Nazara Technologiesn, said. 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, he added.
Parth Chadha, CEO of STAN, expressed that, “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.”
In addition to the Stan deal, Nazara has made additional significant investments. In 2023, Nazara acquired a 48% stake in Paper Boat Apps, a popular app series, for ₹300 crores. Additionally, the company raised its investment in Halaplay Technologies, a major fantasy sports platform, to strengthen its position in the industry. These strategic measures, notably Nazara’s investment in Stan, show the company’s dedication to preserving its dominance in India’s gaming market. By focusing on digital media platforms and sports content (SportsKeeda), Nazara has successfully extended its gaming audience and is set to shape the future of esports in the region. Increase in net profit for FY 2024, owing to its rising user base, strategic acquisitions, and the scaling of its esports projects. The acquisition of Stan is expected to boost the company’s earnings further as India’s esports market grows, fueled by millions of players and enthusiasts. Nazara announced a consolidated net profit of ₹78.6 crores for fiscal year 2023, demonstrating significant profitability across its diverse gaming portfolio, including mobile games, esports, and interactive entertainment. Nazara hopes to strengthen its footprint in the esports market by integrating Stan, which will drive increased engagement and growth through a diverse and dynamic audience base.
