Nazara partners with Telangana government to drive AI innovation in gaming and digital entertainment

Nazara Technologies has signed a Memorandum of Understanding (MoU) with the Telangana State Government to set up an Artificial Intelligence Centre of Excellence (AI CoE) focused on gaming and digital entertainment.

The AI ​​Center will conduct research, development and innovation in the field of games, interactive media, game-based learning and other digital content, using cutting-edge technologies such as AI, VR/AR, blockchain and Web 3.0

The Nazara AI Center of Excellence aims to support policy development, nurture startups, upskill and engage global expertise to strengthen a vibrant and inclusive community

A publicly traded media and gaming company Nazar Technologies signed a Memorandum of Understanding (MoU) with the Telangana State Government to set up an Artificial Intelligence Centre of Excellence (AI CoE) focusing on gaming and digital entertainment.

“With this collaboration, Nazara will emerge as a leader in AI-powered gaming and digital entertainment and Telangana will become a global hub for AI innovation,” the company said in a statement.

The AI ​​Center will focus on research, development, and innovation in games, interactive media, game-based learning, and other digital content, leveraging cutting-edge technologies such as AI, VR/AR, blockchain, and Web 3.0.

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

Minister for Information Technology and Industries, D. Sridhar Babu, said, “Nazara AI CoE will empower startups, upskill and attract investments in cutting-edge technologies, creating a diverse and vibrant ecosystem.”

Nazara AI Center of Excellence aims to support policy development, startups, upskilling and engaging global experts to strengthen a dynamic and inclusive community.

The incident comes days after the company’s wholly owned subsidiary Nazara UK acquired London-based gaming studio Fusebox Games for £21.18 million (approximately Rs. 234.55 million).

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

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

In the fiscal year 2024, Nazara’s consolidated net profit amounted to 98% dropfalling to INR 18 lakh in Q4 from INR 9.4 crore in the corresponding quarter of the previous year.