Nazara to expand its footprint in MENA region by acquiring majority stake in Publishme

Nazara Technologies Limited, a leading mobile game company in India, announced today that it has signed a binding term sheet for acquiring a majority stake in Arrakis Tanitim Organizasyon Pazarlama San Tic Ltd Sti (Publishme). 

Publishme is the largest mobile game publishing agency in Turkey as well as in the Middle East & North Africa (MENA) region.  

Nazara Technologies will acquire a 69.82 per cent stake in Publishme for an amount of Rs 20 crore by way of primary and secondary transaction via its subsidiary.  

MENA is one of the fastest-growing gaming markets. It has an estimated market size of $4.8 billion with over 16 crore gamers in the region (of which, 10 crore are mobile gamers). This strategic acquisition will help Nazara to expand its footprint in Turkey and MENA region. It aims to construct & enhance local execution capabilities transcending key growth segments of freemium, gamified learning, and esports.  

At 11.36 am, the share price of Nazara Technologies Limited was trading at Rs 1,680.00, an increase of 0.98 per cent over its previous day’s closing price of Rs 1,663.75 on BSE.