Nazara Tech subsidiaries to increase stake in Freak 4U Gaming to 100%

28 Jun 2024 , 01:29 PM

Nazara Tech announced on Friday, June 28, that its material subsidiary, NODWIN Gaming Pvt Ltd, and its Singapore-based subsidiary, NODWIN Gaming International Pte, have signed definitive agreements to up their existing 13.51% shareholding in Berlin-based international full-service gaming and esports agency Freaks 4U Gaming GmbH to 100%.

The company stated that the share swap will be done in tranches worth up to ₹271 Crore.

NODWIN Pte will first increase its stake in Freaks 4U Gaming to 57%, with the balance of 43% held by founders Michael Haenisch, Matthias Remmert, and Jens Enders to be exchanged later at its discretion. Meanwhile, the current investors in Freaks 4U Gaming will become shareholders in NODWIN Pte.

Freaks 4U Gaming made ₹223 Crore in 2023. Brands and publishers can benefit from the company’s extensive agency services and best-in-class solutions. This acquisition will substantially improve NODWIN Gaming’s capabilities, bringing in the expertise, experience, and network of the Freaks 4U Gaming team, and will likely contribute materially to NODWIN’s revenues going forward, according to the business.

NODWIN Gaming co-founder Akshat Rathee described the acquisition as a critical step in the company’s global expansion strategy. He claimed that by combining Freaks 4U Gaming’s skills and resources, we would be able to provide exceptional services and extend our global reach in the gaming and e-sports industries.

Michael Haenisch, CEO of Freaks 4U Gaming, stated that his company is excited to collaborate with NODWIN Gaming to build a robust network and synergies that are unmatched in the market.

At around 1.20 PM, Nazara Tech was trading 4.14% higher at ₹847, against the previous close of ₹813.30 on NSE. The counter touched an intraday high and low of ₹851.45, and ₹815, respectively.

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