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Company Background

Nazara Technologies Limited (“Nazara”) was incorporated on December 8, 1999. Nazara is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems including World Cricket Championship (WCC) and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

Company’s goal is to cater to billion plus mobile internet players across emerging markets who have embraced social multiplayer interactive gaming as the foremost form of entertainment. They seek to achieve this by providing interactive mobile games, eSports content and gamified early learning apps which are entertaining, locally relevant and result in positive engagement and longer retention of users of their platform.

Their content is developed in India for the Indian as well as global audience, allowing them to achieve scale, as evidenced by an average of 40.17 million Monthly Active Users (“MAUs”) for Financial Year 2020 and an average of 57.54 million MAUs across all games for the 9 month period ended December 31, 2020.

Strengths & Strategies

Leadership position in a diversified and scalable business

Nazara has successfully leveraged capabilities for in-house content creation, game engine development and propriety technology stack development, ability to deliver positive LTV/CAC ratios across offerings and relationships with telecom operators, app stores and other participants in gaming ecosystems.

Large and engaged community of users, with attractive monetization opportunities

Nazara relies on the freemium model for monetization of mobile gaming businesses, allowing users to download and access fully functional apps and content for free. In eSports, including eSports media, revenues are generated through licensing of media rights and brand sponsorships.

Successful inorganic growth through strategic acquisitions

In Financial Year 2018, Nazara acquired Next Wave to further augment our cricket mobile game offerings, and through IP-led cricket games such as WCC, WCC 2, Beach Cricket and Bat Attack Cricket, and now commands the greatest mindshare in the mobile cricket segment. (Source: F&S Report)

It also entered eSports through the acquisition of Nodwin Gaming in Financial Year 2018, and eSports media through Sportskeeda, by acquiring Absolute Sports in Financial Year 2020. Some of the recent strategic investments, such as in Paper Boat Apps, has provided them an entry into gamified early learning. It also acquired Halaplay Technologies in Financial Year 2019, marking their entry into skill-based, fantasy gaming.

Enhance existing offerings and increase monetization opportunities

Nazara intends to regularly update games after launch to add new content and features, encourage social interactions and improve monetization and increase investment and focus on back-end infrastructure to provide better quality services. It will continue to work with top game developers to source and localize high quality game content for users, invest in new game development tailored to local tastes, as well as continue to invest in eSports IP.

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