Nazara Technologies acquires stake in Kofluence, launches influencer-driven game discovery platform

Nazara Technologies Limited, a diversified gaming and sports media platform based in India, has announced a strategic move in the gaming industry. The company’s board has approved the acquisition of a 10.77% stake in Kofluence Tech Private Limited from certain existing investors, in a share swap transaction.

Acquisition Details and Share Swap Transaction

The transaction involves Nazara issuing 3,71,637 Equity Shares at Rs. 872.15 per share, aggregating to Rs. 32,41,23,210. This preferential issue on a private placement basis to the sellers marks a significant investment into Kofluence, India’s leading Social Media Influencer led Marketing-Tech platform.

Kofluence’s Expansive Creator Network

With over 600,000 registered creators across various social media platforms like Instagram, YouTube, Facebook, LinkedIn, and Twitter, Kofluence represents more than 20 languages. The platform, known for its full-stack marketing approach, has worked with over 500 marquee clients across diverse sectors, unlocking value through social media creators.

Nazara Technologies and Kofluence Announce Influencer-Driven Game Discovery Platform Launch

Innovative Game Discovery Platform Initiative

The partnership between Nazara Technologies and Kofluence aims to launch an innovative influencer-driven game discovery platform. This platform will utilize influencers to promote Nazara’s games, tailoring content to match audience preferences and driving game downloads. This approach is set to enhance Nazara’s game visibility, enable targeted marketing, and provide direct performance feedback.

Leadership’s Vision for the Partnership

Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, expressed his enthusiasm for the partnership, highlighting the potential of combining gaming with the creativity of influencers. He emphasized the benefits to Nazara’s new game publishing initiative, ‘Nazara Publishing’.

Sreeram Reddy Vanga, Co-founder, and CEO of Kofluence, remarked on the significance of Nazara’s investment. He pointed out the partnership’s ability to enhance the visibility and engagement of Nazara’s gaming portfolio, reshaping game marketing dynamics and creating a comprehensive gaming narrative.

Strategic Implications of the Acquisition

The acquisition and the subsequent launch of the game discovery platform are set to revolutionize the way games are marketed and discovered. With Nazara’s expertise in gaming and Kofluence’s extensive network of creators, this partnership aims to create a vibrant environment for gaming, blending entertainment with influencer creativity.

This strategic move by Nazara Technologies not only extends its reach in the gaming sector but also sets a new standard in digital marketing and influencer engagement in the gaming industry.