The share prices of online gaming companies witnessed a meteoric rise in India on January 19 in conjunction with their peers abroad a day after tech giant Microsoft said it was acquiring “Candy Crush”-maker Activision Blizzard in a stunning deal.
Following that the shares of ace investor Rakesh Jhunjhunwala-backed Nazara Technologies reached their 5 percent upper circuit limit of Rs 2,494.25 on the NSE. On the other hand, OnMobile Global also scaled from 15.5 percent to Rs 148.85.
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On January 18, Microsoft announced that it was acquiring video-game publisher Activision Blizzard in a $69 billion all-cash deal, marking the biggest yet in the technology sector that outstrips Dell’s purchase of EMC for $67 billion in 2016.
It made clear that technology giants are making big strides to secure their space in the metaverse; a word that is fast becoming a rage ever since Facebook changed its name to Meta. For the unversed, Metaverse implies a virtual world where people can congregate, carry out their daily jobs, play and socialize in digital avatars.
Moneycontrol reported that Industry watchers think that such deals have little bearing on Indian gaming companies. They posited that a company like Microsoft will hardly ever contemplate acquiring a mobile gaming platform like Nodwin or Kiddopia, therefore, the deal as such has no real impact or meaning for companies such as Nazara Technologies, which are platform providers for game publishers.