Press Release28 Jun 2024, 04:29 pm
Nazara's Subsidiary NODWIN Gaming to Acquire 100% Stake in European Esports Company Freaks 4U Gaming for INR 271 Cr
AI Summary
NODWIN Gaming, a material subsidiary of Nazara Technologies Ltd, has announced it will increase its existing 13.51% stake in Freaks 4U Gaming to 100% through a share swap valued at INR 271 crore (Euro 30.3 million). The acquisition will significantly enhance NODWIN Gaming's capabilities, contribute materially to its revenues, and bolster its access to developed markets. The two companies have already worked on joint projects and explored new business vertical opportunities.
Key Highlights
- NODWIN Gaming to acquire 100% stake in Freaks 4U Gaming for INR 271 crore (Euro 30.3 million)
- Acquisition will enhance NODWIN Gaming's capabilities and contribute materially to its revenues
- The deal will bolster NODWIN Gaming’s access to developed markets and serve as substantial revenue drivers
- Freaks 4U Gaming offers a multitude of agency services and generated INR 223 crores (Eur 26.9 mn unaudited) in 2023
- The two companies have already worked on joint projects and explored new business vertical opportunities