Indian gaming and sports media company Nazara Technologies today said it has invested $500,000 (approx. Rs 4.15 crore) in Israel-based game developer Snax Games via its wholly owned Singapore subsidiary.
The company has also entered into a publishing agreement with Snax Games through which it has acquired the exclusive rights to publish the games in the Indian subcontinent and the Middle-East region on a revenue-sharing basis for a period of five years, Nazara said in an exchange filing.
Snax Games is a mobile gaming company founded by seasoned industry veterans Adam Gal-Ed, and Shahar Burgm, Snax leadership team comprises over 20 years of experience in the gaming space with a track record of developing multiple top-grossing games and IPs with over $ 1 billion of accumulated revenues and leading gaming giants such as Scopely, Plarium & CrazyLab.
Snax is developing a new genre called casual multi-game - their first game, Parties & Puzzles, delivers a new and unique experience that is redefining the puzzle category.
Nitish Mittersain, CEO & Jt. Managing Director, Nazara Technologies, said, “We are happy to back the highly experienced team at Snax Games and bring their high quality and engaging games to our audiences in India and Middle East."
Adam Gal-Ed, CEO, SNAX Games Ltd, said, “We are excited to partner with India’s only listed gaming company Nazara Technologies to bring our games to millions of users in India and the Middle East. Our first game ‘Parties & Puzzle’ will be made available soon through Nazara’s publishing platform.
Nazara Technologies is one of India's leading gaming and sports media companies founded in 1999 by Nitish Mittersain.
The company has its headquarters in Mumbai and offices in India and across emerging markets. It owns well-known gaming IPs and brands like WCC, Nodwin Gaming and Sportskeeda.