Acquisitions19 Dec 2024, 02:40 pm
Nazara Technologies' Subsidiary Nodwin Gaming to Acquire 92.30% Stake in AFK Gaming for INR 7.58 Crores
AI Summary
Nazara Technologies Limited has informed the Exchange about the acquisition of AFK Gaming Private Limited by its subsidiary, Nodwin Gaming Private Limited. The acquisition will be for an aggregate consideration of INR 7.58 Crores, payable partly in cash and partly by swapping equity shares. The transaction is subject to certain customary conditions and is expected to complete within 60 days. Post-acquisition, AFK will become a wholly-owned subsidiary of Nodwin and a step-down subsidiary of Nazara Technologies.
Key Highlights
- Nodwin Gaming to acquire 92.30% stake in AFK Gaming for INR 7.58 Crores.
- Payment will be made partly in cash (INR 4.59 Crores) and partly by swapping equity shares (INR 2.99 Crores).
- The transaction is subject to customary conditions and is expected to complete within 60 days.
- AFK Gaming's founding team to take leadership roles in technology and strategy at Nodwin Gaming.
- AFK Gaming is engaged in the Gaming and Sports Entertainment business, specializing in PR and agency work.