Business Update29 Jun 2024, 11:32 pm
Nazara Technologies Extends Acquisition Deadline of Datawrkz Business Solutions, Fixes Purchase Consideration
AI Summary
Nazara Technologies Ltd, in compliance with Regulation 30 read with Schedule III of Listing Regulations, has extended the Second Closing Long Stop Date for the acquisition of 14,999 equity shares of Datawrkz Business Solutions Private Limited to January 07, 2025. The purchase consideration has been fixed at INR 21 Crores, out of which INR 15 Crores will be paid in cash and the balance INR 6 Crores will be paid by way of issuance of shares of the Company. This decision comes after the execution of a Letter Agreement No. 5 dated June 28, 2024, between the Company, Datawrkz Business Solutions Private Limited, and the Founder.
Key Highlights
- Nazara Technologies extends the acquisition deadline of Datawrkz Business Solutions to January 07, 2025.
- The purchase consideration for the acquisition has been fixed at INR 21 Crores.
- INR 15 Crores will be paid in cash, and the balance INR 6 Crores will be paid by way of issuance of shares of the Company.
- This decision follows the execution of a Letter Agreement No. 5 dated June 28, 2024.
- The acquisition represents 22% of the shareholding on a fully diluted basis.