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Nazara Technologies acquires majority stake in Nextwave Multimedia

Deal provides “ideal platform" for establishing virtual reality arcades across India

Indian games publisher Nazara Technology has acquired a majority stake in mobile developer Nextwave Multimedia.

The developer, best known for its World Cricket Championship game, has a portfolio of titles with more than 100 million downloads over the last seven years.

According to PocketGamer.biz, Nazara said the popularity of the World Championship Cricket franchise provides an "ideal platform for ushering in virtual reality arcades and launching mobile sports around cricket in India."

The move is in-line with Nazara's recent steady expansion which has seen it funnel $20 million toward developing esports in India. The company has also invested in heavily in Mastermind Sports, Moong Labs, and HalaPlay.

"Nazara has been on the lookout for gaming companies which have established strong leadership in the sports genre," said Nazara Games CEO Manish Agarwal.

"Nextwave offers a strong promise of dominating the space globally with its massive large fan base of over approximately 15 million monthly active users and very strong product offering."

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