16 August 2018, India:
Nazara Technologies has acquires minority stake in Bengaluru based VR (Virtual Gaming) gaming company InstaSportz Consultancy Pvt. Ltd. The company has acquired 10% stake. The deal size has not been disclosed yet.
Nazara will enter the offline gaming space with interactive entertainment through VR lounges in Tier-1 and Tier-2 cities across India with this acquisition.
“At Nazara, we wish to offer interactive entertainment that blends sports, virtual reality, and arcade gaming thus offering an immersive gaming experience across all age groups. With this investment in Instasportz, we are pushing ourselves to offer gaming lead entertainment to gamers across various touch points and aim to give them a chance to experience the virtual reality games at the Instazones and continue the thrill of gaming on their mobile phones once they head back home,” said Manish Agarwal, CEO of Nazara Technologies.
Manish Agarwal added, “Offline gaming, like some of the bets we have made in the past, is part of our strategy to create business verticals that can scale INR 1,000 Cr in revenues over the next 3-5 years.”
Bigith Nambiar, founder, InstaSpotz, said, “We aim to own the largest network of VR lounges across India and other emerging markets globally. We believe that Nazara, with its presence in 61 countries as on 30 September, will help us in expanding our presence through strategic local partnerships across emerging markets.”
InstaSportz was founded by Bigith Nambiar and KR Rahul in 2016. It is a startup in offline VR gaming space with the vision of making millions of Indians experience the latest innovations in VR gaming through its state-of-the-art VR gaming kiosks called Instazones.
(Image – Nazara)