Nazara Technologies has acquired a 67 per cent stake in sports media platform Sportskeeda.
The firm invested $534 million in the multi-sport platform. This new investment gives Nazara an extra 25 million active users a month for its network, closing in on 100 million.
To build its network, Nazara has invested in numerous games companies from different sectors including esports, fantasy sports and casino games and has business operations in 61 countries.
The Indian company is a worldwide leading interactive gaming and sports media company. Currently, it has a network of over 100 million players in India.
“We at Nazara are building platforms for fan engagement across all aspects of sports entertainment and we believe that this move will serve a triple play offering to the 100 million strong network through content, competition and community across all emerging markets,” said Nazara Technologies founder and managing director Nitish Mittersain.
Formerly Sportskeeda was backed by early stage venture capital company Seedfund. It produces over 10,000 articles a month, covering a variety of high-profile sports like football, esports, WWE, MMA, cricket, basketball and more.
“Nazara’s acquisition and investment into Sportskeeda is an important milestone in our journey. From our modest beginning as a multi-sport blog in 2009, we have become a one of a kind sports content platform,” Sportskeeda CEO, Porush Jain.
“We have our eyes set on becoming the world’s largest multi-sport platform by leveraging Nazara’s geographical reach in the sports-crazy Middle East & Africa markets.”