Mobile game developer Nazara Technologies said it will acquire a 10.77% stake in Kofluence Tech Private Ltd by issuing its own shares to some investors in Kofluence.
Nazara will issue 3.72 crore shares at a price of Rs 872.15 each, or Rs 32.41 crore in total.
Kofluence, it said, is India’s leading Social Media Influencer led Marketing-Tech platform with over 6 lakh registered influencers and creators across Instagram, YouTube, Facebook, LinkedIn, and Twitter in more than 20 languages.
"Nazara and Kofluence together will launch an influencer led game discovery platform which will transform Nazara Technologies' game distribution by becoming a powerful network for Nazara's gaming content on Social Media. Influencers can showcase the games, create buzz around new releases, and drive downloads and engagement. This model would allow Nazara to penetrate deeper into the market, reaching diverse audiences across different social media platforms," Nazara said.
Positioned as Full Stack Marketing platform, Kofluence caters to performance metrics across creating Awareness, Interest, Desire, and Action, Nazara said.
Kofluence had revenue of Rs 24.34 crore in the last financial year, up from 6.59 crore in the one before.
"Having worked with 500+ marquee clients across 20+ sectors, Kofluence has helped brands unlock value through social media creators. The partnership between Nazara Technologies and Kofluence aims to launch an influencer-driven game discovery platform," Nazara said.
"This approach enhances Nazara's game visibility, enables targeted marketing, and allows for direct performance feedback, helping them penetrate diverse market segments."
"Kofluence is pioneering creator economy led platforms and Sreeram's extensive gaming experience is invaluable to create a pioneering influencer led game discovery platform and community. Our goal is to create an environment where gaming collaborates with the creativity of influencers, enriching the gaming experience for a global audience. Our new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative," it added.