Nazara Technologies acquires Ultimate Teen Patti IP rights for Rs 10 crore from Games24x7. Nextwave subsidiary to expand casual freemium gaming with the acquisition, expecting deal closure within 90 days.
A paradigm shift has occurred in the turbulent Indian startup environment in FY23, as a result of a fundraising winter that has forced firms to put profitability ahead of rapid expansion. This change has prompted considerable cost-cutting measures in addition to raising concerns regarding founder compensation in the face of employee layoffs and pay reductions.
Nazara Technologies plans to launch up to 20 games across mobile, web3, VR and PC over the next 18 months, with a minimum investment of Rs 1 crore per game.
Nazara said it will also provide developers with support on game design, localisation, data analytics capabilities, beta testing and quality assurance, enhanced monetisation and strong distribution through smart user acquisition spends and platform partnerships. Nazara Technologies Announces New Game Publishing Division To Launch High-Quality Games for Indian and Global Market.