India’s only listed gaming company Nazara Technologies has raised Rs 855 crore ($101 million) via a preferential issue, which saw participation from SBI Innovative Opportunities Fund, Junomoneta Finsol, and Think India Opportunities Master Fund LP, among others. The company has recently been on an expansion spree as it has been pushing inorganic growth via acquisitions, and is looking to enter international markets.
The acquisition of Fusebox Games is part of Nazara's aggressive expansion strategy, leveraging its strong cash reserves to build a robust gaming ecosystem. In addition to the Fusebox acquisition, Nazara Technologies has also received a letter of intent (LOI) for the acquisition of Smaaash Entertainment, a company currently undergoing insolvency.