Nazara Technologies to buy stake in mobile game publishing agency Publishme
Nazara Technologies Limited has signed a binding term sheet to acquire a stake of 69.82% in Publishme, a games marketing and publishing agency, from Arrakis Tanitim Organizasyon Pazarlama San.Tic. Ltd. Sti for nearly INR 20 crore.
Publishme is said to extensively work with gaming publishers in Turkey and the Middle East and North African (MENA) region.
Led by CEO Özgür Özalp, Publishme is said to have a strong clientele, which includes Garena, Lokum Games, and My.Games. The game’s marketing and publishing agency also works with various brands in Turkey and MENA region, which include Turkcell, KFC, Hepsiburada, RedBull, ASUS, and Yemeksepeti.
Özgür Özalp said: “We are delighted to join Nazara and lead the company’s foray in the MENA region. MENA is one of the fastest growing gaming markets, with an estimated market size of $4.8bn and has over 160mn gamers in the region (of which 100mn are mobile gamers).
“Our alliance with Nazara offers a unique blend of network, global reach and local capabilities to further the growth of the gaming industry in the region. With this, Publishme, will become a full-fledged publisher in the MENA region.”
Nazara Technologies to buy stake in Turkey-based mobile game publishing agency Publishme. Photo courtesy of Tumisu from Pixabay.
The acquisition will be carried out via a mix of primary investment and secondary purchase from the founders and existing shareholders by Nazara Technologies, which is an India-based gaming and sports media platform.
According to Nazara Technologies, the deal enables its entry into the MENA region in the gaming industry. Furthermore, the stake acquisition will help the Indian gaming company to establish itself as a major player in the region.
Nitish Mittersain – Nazara Technologies Founder and joint MD said: “MENA is a key geography for us and this acquisition will help us in establishing ourselves as a key player in the region. We are excited to have someone with deep regional knowledge and capabilities like Özgür and his team join the ‘Friends of Nazara’ network”
The deal is subject to the completion of due diligence, negotiation and signing of a definitive agreement, meeting of certain conditions, and the receipt of necessary corporate and regulatory approvals.