Nazara to raise $77m from Bluetile and BestPlay founders and leadership

• Investors include Raymond Albaladejo Stauffer, Marc Sylvester Schutze, Maxime Loppin, Alexandre Paul Jean Noirot-Cosson, Alexander Osou and Hugo Rémy Gaston Blavin.
• Funds to go toward new acquisitions, growth initiatives, AI and more.

Indian publisher Nazara Technologies is set to raise ₹733.5 crore ($77m) through a preferential issue of equity shares from the founders and senior leadership of its acquired studios Bluetile and BestPlay.

Bluetile CEO Raymond Albaladejo Stauffer, who is set to replace Nitish Mittersain as Nazara CEO from September 1st, will invest ₹583.5 crore ($61.3m). The move will make him a “significant individual shareholder” of the company.

Other investors include Marc Sylvester Schutze, Maxime Loppin, Alexandre Paul Jean Noirot-Cosson, Alexander Osou and Hugo Rémy Gaston Blavin.

Nazara said the funds will go toward strategic acquisitions, growth initiatives, investment in owned IP, AI-enabled game development and operating capabilities and other opportunities.

Reinvesting proceeds

“The decision by Raymond and the Bluetile and BestPlay leadership team to invest approximately ₹734 crore of their own capital into Nazara is a powerful endorsement of the global platform we have built over the last few years,” said current Nazara CEO and MD Nitish Mittersain. “As founder, it is deeply heartening to see Nazara recognised and respected across the global gaming industry.”

Stauffer added: “I’m reinvesting a substantial portion of the proceeds from Bluetile and BestPlay back into Nazara. I’m doing this with a lot of optimism. The next chapter for the company is the most exciting yet. Nazara has the platform, balance sheet and ambition to build a global gaming business.

“We also have a real opportunity to drive operating efficiencies. I’m excited to play a meaningful role in that. This reinvestment reflects my full conviction and confidence in the future of Nazara we are building together.”

News of the investment comes after Nazara revised its terms to acquire Bluetile and BestPlay in all-cash deals for $224.6m and $80.4m, respectively.