Nazara Technologies' board has approved the acquisition of a 100 percent stake in gaming company OpenPlay Technologies for Rs 186.4 crore. Manish Agarwal, CEO, Nazara Technologies discussed the details of the acquisition and the outlook for the company with CNBC-TV18.

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Nazara Tech is getting into real money gaming with the acquisition. While the company was earlier strategically cautious about the space given the regulatory challenges, it is now becoming more comfortable with emerging clarity.

Explaining the rationale and the plan behind it, Agarwal said, “The nomenclature of real money gaming is a skill-based real money gaming or one can call it skill-gaming. That is a more apt and correct nomenclature, which we are looking at. We are becoming more comfortable with the clarity emerging from various quarters across judicial as well as executive.”

Also Read: Nazara Tech shares jump after company acquires skill gaming firm OpenPlay

He expects the vertical to continue to grow. “Because of that comfort, we want to make some strong and firm moves to make this segment itself a Rs 100 crore segment for us in this year and OpenPlay is a great fantastic addition to Nazara network to achieve that intermittent objective with a longer objective being how to become a significant player in this segment,” he said.

According to Agarwal, the skill-based gaming space has multiple operators today and this market is ripe for consolidation opportunities and for network-based play.

For the full interview, watch the accompanying video.

(Edited by : Kanishka Sarkar)