Acquisitions31 Jan 2025, 01:39 pm
Nazara Technologies' Subsidiary NODWIN Gaming to Acquire Starladder Ltd for up to USD 5.50 Million
AI Summary
Nazara Technologies Limited has informed the Exchange about the acquisition of Starladder Ltd by its subsidiary NODWIN Gaming International Pte Ltd. The acquisition, valued at an aggregate consideration of up to USD 5.50 million (~INR 47.59 crores), will be partly through cash and partly through swap of equity shares. The transaction is subject to customary condition precedents and other terms and conditions.
Key Highlights
- NODWIN Gaming International Pte Ltd, a subsidiary of Nodwin Gaming Private Limited, a material subsidiary of Nazara Technologies Limited, to acquire 100% share capital of Starladder Ltd
- Transaction value is up to USD 5.50 million (~INR 47.59 crores), to be paid partly in cash (USD 2.00 million or ~INR 17.31 crores) and partly through swap of equity shares (USD 3.50 million or ~INR 30.28 crores)
- Additional consideration in cash and swap of equity shares of Nodwin Singapore will be payable based on the earn-out targets
- Upon completion, Starladder will become a wholly owned subsidiary of Nodwin Singapore and a step-down subsidiary of Nodwin and the Company
- Starladder is a Cyprus-based company known for producing Valve CSGO Majors and the Star Series IP, and excels in top-tier live event production