The parent company of online poker platform Pokerbazzi, Moonshine Technology to sell a 47.7 percent stake to Nazara Technologies for Rs 831.5 crore. The company signed an agreement with existing shareholders to buy its stakes in the startup through a secondary transaction. This investment will enable the gaming companies to merge their clients, and technologies while enhancing the platform for improved gaming compatibility with technology and expanding their network globally.
The gaming startup offers an online tech-enabled platform for online gambling operators. Moonshine Technologies has raised around 11.2 million USD across two funding rounds since its inception, including $4.96 million secured during a series A funding round from Influencer Interactive. The development came just after Nazara Technologies invested Rs 234.55 crore in Fusebox Gaming to strengthen its presence in the gaming ecosystem. Nazara previously acquired stakes in Circle of Games and has acquired several gaming companies through its subsidiaries including Games 24×7, Fusionox Gaming, and Deltias Gaming. After this deal, the companies will have more innovative gaming solutions, increased technical skills, and more workforce.
The acquisition deal with Nazara will benefit both companies by enhancing their gaming capability by integrating clients, technology, networks, and approaches. The funding round came when Nazara Technologies focused on improving its online gaming presence through strategic acquisitions in the gaming sector. Nazara posted its operational revenue of Rs 254.4 in the first quarter of FY25. Nazara also acquired a 15.86 percent stake in the gaming platform GetStan technology for Rs 18.4 crore. The company is focused on acquiring businesses and combining their technologies and solutions.
The company acquired Moonshine Technology to strengthen its presence in the gaming industry while developing more powerful gaming solutions for its users. Nazara mentioned in an exchange filing that the board passed the strategic investment through the secondary acquisition of 18.96 lakh equity shares with a face value of Rs 10 per share of Moonshine from their existing shareholders. Nazara Technologies will pay Rs 592.26 crore in a cash transaction and the remaining Rs 239.25 crore will be paid through swapping of shares via the company’s paid-up equity shares. Moonshine Technology competes with other gaming platforms such as Games 24×7, and Huuuge Games.
Conclusion :
Nazara Technologies announced its plans to acquire around 47.7 percent stake in the gaming startup Moonshine Technologies for Rs 831.5 crore. The acquisition came after the company signed a deal with existing shareholders to buy stakes in the gaming company through a secondary transaction. The company took this initiative to strengthen its technology and generate innovative gaming solutions.
This investment allowed Nazara to merge technologies and clients of both gaming companies to enhance its performance compatibility. Nazara Technologies is focused on investing around 100 million USD in the merging and acquisition of gaming companies in the next two years. The company recently invested Rs 18.4 crore in the gaming platform Getstan technology to acquire 15.86 percent of the firm’s stake. The company provides various mobile application development solutions and casino games.
