Nazara Technologies Acquires 22% Stake in Datawrkz for Rs. 12 Crores, Increasing Its Holding to 55%

Nazara Technologies Limited has informed the stock exchange about the acquisition of 14,999 equity shares of Datawrkz Business Solutions Private Limited from the sellers. This acquisition represents 22% of the share capital of the Target Company and has been made in compliance with Regulation 30 read with Schedule III of Listing Regulations. The total cash consideration for this acquisition is Rs. 21 Crores, out of which Rs. 12 Crores has been paid as the first tranche. The remaining balance will be paid as per the Investment Agreement. This acquisition increases Nazara Technologies' equity holding in Datawrkz to 55%, making Datawrkz a subsidiary of the Company.