Nazara Technologies said it will acquire a 69.82 per cent stake in Publishme, the largest mobile game publishing agency in the Middle East and Turkey, for about Rs 20 crore that will help the Indian gaming major strengthen its presence in the region.

“With this acquisition, we will further expand our international footprint in the freemium segment. Nazara will aim to build local execution capabilities cutting across key growth segments freemium, gamified learning, and esports,” Nazara Chief Executive Officer Manish Agarwal said.

He added that the acquisition will help the company in establishing itself as a key player in the region. Agarwal said the move will also help in taking investee companies of Nazara the ‘Friends of Nazara’ network to the MENA region. The ‘Friends of Nazara’ network comprises established gaming companies in which Nazara holds majority stakes and works actively with existing founders and management teams to fastly achieve scale. These companies include Nodwin Gaming and SportsKeeda in esports, Next Wave Multimedia, and Paper Boat Apps.