Nazara Technologies, the listed gaming and media company, announced its acquisition of a 15.86% stake in esports community platform Stan for Rs 18.4 crore ($2.2 million) in cash. The deal was made through Nazara’s wholly owned subsidiary, Nazara Dubai FZ, as revealed in a press release on Wednesday.
Stan, co-founded by Parth Chadha, Nauman Mulla, and Rahul Singh, is an esports fan engagement platform that allows gamers to connect with and support content creators through various tools. As of July 2024, the platform has amassed more than 12 million users, with over 80% of them acquired through organic and referral-based channels. The platform currently boasts more than 500,000 paying users.
“Nazara’s investment in Stan strengthens our position in the rapidly growing gaming and esports landscape. Stan’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem. This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community,” said Nitish Mittersain, founder and CEO of Nazara Technologies.
In recent months, Nazara has been expanding its presence in the gaming and esports industry through multiple acquisitions. These include acquisitions made by its esports and events subsidiary Nodwin, such as Comic Con India, West Asia and Turkey-focused marketing firm Publishme, Singapore-based events company Branded, and Turkish esports company Ninja Global.
Additionally, Nazara has expanded into international markets with its acquisition of UK-based gaming studio Fusebox Games and the developer of Kiddopia, Paper Boat Apps. Nazara’s unit, Absolute Sports, recently acquired all the assets of US-based gaming content firm Deltias Gaming for Rs 7.5 crore, as reported by ET in August 2024.
Speaking on the latest acquisition, Stan’s co-founder Parth Chadha commented, “Nazara’s investment will be a major boost for Stan, fast-tracking our journey to redefine gaming and esports communities, and help us achieve our vision.”
Earlier this year, on March 13, ET reported that Nazara had set aside approximately Rs 830 crore for mergers and acquisitions across key markets including India, Europe, and North America.
For the first quarter of the 2025 fiscal year, Nazara reported a 13% increase in net profit to Rs 23.6 crore, even as revenue dropped slightly by 1.7% to Rs 250 crore.