Nazara Technologies up 6% on acquiring 15.86% stake in STAN for Rs 18.4 cr
Source: Business Standard
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The shares of Nazara Technologies surged after the company announced that it has acquired a 15.86 per cent stake in GetStan Technologies Pte. Ltd (STAN) for Rs 18.4 crore (or $2.2 million) in an all-cash secondary transaction.
Founded by Parth Chadha, Nauman Mulla, and Rahul Singh, STAN is an esports community platform based in India. Until July 2024, STAN’s user base surpassed 12 million, with over 80 per cent of users coming through organic and referral-based channels.
The platform has shown strong monetisation, boasting over 500,000 paying users and a high 30-day retention rate of over 60 per cent. Its mobile app has gained major traction, consistently ranking among the top 51 on the Google Play Store with a 4.7-star rating over the past year, the company said.
“Nazara’s investment in STAN strengthens our position in the rapidly growing gaming and esports landscape. 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. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” said Nitish Mittersain, founder and CEO of Nazara Technologies.
Nazara Technologies is a leading diversified gaming and sports media platform with a key presence in both emerging and developed markets, including Africa and North America. The company’s portfolio spans interactive gaming, eSports, and gamified early learning ecosystems.
The company boasts a strong lineup of proprietary IP, including popular mobile games like WCC and CarromClash, gamified early learning solutions such as Kiddopia, and eSports and media platforms like Nodwin and Sportskeeda.
Additionally, the company owns Halaplay Technologies Private Limited (Halaplay) and Qunami, which focus on skill-based, fantasy, and trivia games. Notably, Nazara was an early entrant into the Indian eSports scene with Nodwin and cricket simulation through Nextwave.
The market capitalisation of Nazara Technologies is Rs 7,662.20 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category.
At 12:00 noon, Nazara Technologies shares were trading 3.69 per cent higher at Rs 1,001.05 per share. In comparison, BSE Sensex was trading 0.24 per cent higher at 81,717.76 levels.
First Published: Sep 12 2024 | 12:06 PM IST
