Nazara Technologies’ wholly owned subsidiary -- Nazara Pte (Nazara Singapore), has entered into a Simple Agreement for Future Equity (SAFE) with Snax Games, an Israeli corporation, for an investment of an amount not exceeding $500,000, in one or more tranches. Pursuant to the SAFE, Nazara Singapore shall have the right to acquire equity shares in Snax Games at a future date, subject to fulfilment of the terms and conditions as set forth in the SAFE.
Snax Games is a casual mobile gaming studio with headquarters located at Herzliya, Israel. The team at Snax Games has been working on their first upcoming title. The aforesaid transaction is not a related party transaction and none of the Company’s promoter/promoter group/ group companies have any interest in the above entities involved in the transaction.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
