Nazara names Raymond Stauffer CEO, rejigs $303 million gaming deal

Nazara Technologies appoints Bluetile and BestPlay founder Raymond A Stauffer as CEO, effective Sept 1, replacing Nitish Mittersain who remains managing director.

Nazara revamps its acquisition of Bluetile and BestPlay into a $303 million all-cash deal, paying $89 million at first closing and the remaining $214 million in installments by April 1, 2027.

Stauffer will oversee Nazara's day-to-day operations, including integration of portfolio companies and collaboration across product development, AI, data, user acquisition, and monetization.

Mittersain will focus on long-term strategy, portfolio management, and key partnerships as managing director.

Bluetile and BestPlay reported revenue of Rs 518 crore and operating profit of Rs 55 crore in the June quarter; Nazara expects to consolidate their financials from the Sept quarter.