Nazara Technologies invest Rs 4.15 crore in Israel-based game developer Snax Games

On August 16, the online sports platform Nazara Technologies Ltd announced that it has invested roughly Rs 4.15 crore in the Israeli game developer Snax Games Ltd through its fully owned Singapore subsidiary Nazara PTE Ltd.

Through the signing of a publishing agreement with Snax Games, Nazara Technologies has obtained the exclusive rights to publish the games on a revenue-sharing basis for a five-year period throughout the Middle East and the Indian subcontinent.

Snax Games is a mobile gaming company established by seasoned industry veterans. The leadership team at Snax Games has over 20 years of experience in the gaming industry and a history of creating multiple top-grossing games and IPs that have generated over $1 billion in accumulated revenues. They have also led gaming behemoths like Scopely, Plarium, and CrazyLab.

Commenting upon the collaboration, Nitish Mittersain, CEO and joint managing director of 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 the Middle East."

Source: Media Reports