Nazara acquires stake and publishing rights from Israeli game developer Snax

Nazara Technologies Limited, a gaming and sports media platform, has invested approximately Rs 4.15 crore ($500,000) through its subsidiary, Nazara PTE Ltd, in Snax Games Ltd, an Israeli game developer.

This partnership grants Nazara exclusive publishing rights for Snax Games' titles in the Indian subcontinent and the Middle East for five years. Its first game Parties & Puzzles introduces a novel casual multi-game genre.

“We are excited to partner with India’s only listed gaming company Nazara Technologies to bring our games to millions of users in India and the Middle East. Our first game ‘Parties & Puzzle’ will be made available soon through Nazara’s publishing platform," said Adam Gal-Ed, CEO, SNAX Games Ltd.

In March, Nazara Technologies purchased Pro Football Network, a digital platform that tracks the National Football League in the US, for $1.82 million. This acquisition granted its subsidiary Absolute Sports a substantial 73.3% stake in the firm.

Later, in May, the company increased its majority stake in Chennai-based games maker Nextwave Multimedia from 52.38% to 71.88%. Nextwave makes cricket simulation games for mobile phones and holds intellectual property for the world cricket championship series.

After Nazara received approval from its board to raise Rs 750, its first investment activity since 2021, it told MoneyControl that it would look to expand mergers and acquisitions in the coming years.