Nazara Technologies has bought a stake worth Rs 14.6 crore from Kae Capital to become majority stakeholder in the fantasy gaming platform.

Global gaming and sports media company Nazara Technologies Ltd on Friday announced that it has acquired Kae Capital’s stake worth INR 14.6 crore to become a majority stakeholder in fantasy gaming platform Halaplay Technologies Pvt. Ltd.

The deal comes at a time when fantasy game apps have suffered a massive blow due to the outbreak of COVID-19. Fantasy game platforms depend on real sporting action, which have been stopped worldwide due to the pandemic.

Nazara Technologies has invested in Halaplay over the years in two tranches; the first round of investment was carried out with Kae Capital in November 2017 and the second round with Delta Corp Ltd in March 2019.

Read More:- https://www.entrepreneur.com/article/351800

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