Nazara to acquire 69.82% stake in Publishme for Rs 20 crore
Publishme is a mobile game publishing agency with presence in the Middle East and Turkey
Jun 17, 2021 03:49:00 AM | Article | Campaign India Team Share -
Nazara Technologies, a gaming, gamified learning and sports media company based in India has announced that it has signed a binding term sheet to acquire a majority stake in Arrakis Tanitim Organizasyon Pazarlama (Publishme).
Publishme is a mobile game publishing agency in the Middle East and Turkey. Nazara will invest an amount of Rs. 20 crore for acquiring 69.82% stake by way of primary and secondary transaction through its subsidiary. With this acquisition, Nazara aims to expand its international footprint in the freemium segment. Nazara will aim to build local execution capabilities cutting across key growth segments namely, freemium, gamified learning and esports.
Özgür Özalp, CEO, Publishme, said, "We are delighted to join Nazara and lead the company's foray in the MENA region. MENA is one of the fastest growing gaming markets, with an estimated market size of $4.8bn and has over 160mn gamers in the region (of which 100mn are mobile gamers). Our alliance with Nazara offers a unique blend of network, global reach and local capabilities to further the growth of the gaming industry in the region. With this, Publishme will become a full-fledged publisher in the MENA region."
Nitish Mittersain, founder and joint MD, Nazara, added, "MENA is a key geography for us and this acquisition will help us in establishing ourselves as a key player in the region. We are excited to have someone with deep regional knowledge and capabilities like Özgür and his team join the ‘Friends of Nazara’ network"
The aforesaid transaction is subject to the completion of due diligence and the receipt of corporate and regulatory approvals required.