Nazara Partners Telangana Govt To Drive AI Innovation In Gaming & Digital Entertainment

SUMMARY

Nazara Technologies has signed a memorandum of understanding (MoU) with the Telangana government to build an AI Centre of Excellence (AI CoE), focused on gaming and digital entertainment

The AI Centre will drive research, development and innovation in gaming, interactive media, gamified learning, and other digital content, utilising cutting-edge technologies such as AI, VR/AR, blockchain and Web 3.0

The Nazara AI Centre of Excellence aims to foster policy development, support startups, enhance skills, and engage global expertise to empower a dynamic and inclusive community

Listed media and gaming firm Nazara Technologies has signed a memorandum of understanding (MoU) with the Telangana government to build an AI Centre of Excellence (AI CoE), focused on gaming and digital entertainment.

“This partnership will position Nazara as a leader in AI-driven gaming and digital entertainment space and Telangana as a global hub for AI innovation,” the company said in a statement.

Nitish Mittersain, Jt. MD & CEO, Nazara Technologies, said, “This collaboration will enable Nazara to further our mission of integrating AI and emerging technologies across our diverse portfolio, positioning us as a leader in AI-driven innovations in gaming and digital entertainment.”

Minister for Information Technology and Industries, D Sridhar Babu, said, “The Nazara AI CoE will empower startups, enhance skills, and attract cutting-edge technology investments, creating a diverse and dynamic ecosystem.”

The Nazara AI Centre of Excellence aims to foster policy development, support startups, enhance skills, and engage global expertise to empower a dynamic and inclusive community.

The development comes days after Nazara UK, a wholly owned subsidiary, acquired London-based gaming studio Fusebox Games for £21.18 Mn (approximately INR 234.55 Cr).

This aligns with Nazara’s strategy to expand its gaming portfolio and global presence through strategic acquisitions. Recently, Absolute Sports, a Nazara unit, bought the intellectual property of US-based Deltia’s Gaming for $900,000 (around INR 7.57 Cr) in an all-cash deal.

In May, it was reported that Nazara acquired the remaining 28.12% stake in Nextwave Multimedia Private Limited, the developers of the mobile cricket game franchise World Cricket Championship, for INR 21.6 Cr. This acquisition increased Nazara’s stake in Nextwave to 100%.

In FY24, Nazara’s consolidated net profit saw a 98% decline, dropping to INR 18 lakh in Q4 from INR 9.4 crore in the same quarter the previous year.

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