Nodwin Gaming, a subsidiary of listed player Nazara Technologies has entered into an agreement to increase its stake in Germany-based Freaks 4U to 100% from current 13.5% in a share swap valued at up to Rs 271 crore (around $32.5 million).
Nazara said in a press statement that Nodwin will acquire the remaining stake in the gaming and e-sports agency in tranches – initially 57% and the remaining 43%, held by founders will be acquired later.
“This acquisition is a pivotal step in our global growth strategy,” said Akshat Rathee, co-founder of Nodwin Gaming. “By integrating Freaks 4U Gaming’s resources, we are poised to expand our global footprint in the gaming and esports industries.”
Freaks 4U is a full-service marketing agency for e-sports and gaming, with offices across Europe, Asia and North America. It offers consultations, online and offline activations and broadcast production solutions. In 2023, Freaks 4U generated a revenue of Rs 223 crore.
The acquisition helps Nodwin improve its access to developed markets such as Germany, US, Taiwan, Serbia and France, besides Freaks 4U’s execution and planning capabilities in PC gaming and publishing support services, Nazara Tech said in the exchange filing.
Previously, in February, Nodwin said it is buying e-sports and gaming company Ninja Global FZCO for $3.5 million in a mixture of cash and stock. In January, it bought Comic Con India, which hosts pop culture festivals in India, for Rs 55 crore.
In October 2023, Nodwin bought Turkish game marketing agency PublishMe, which was previously owned by its founder Ozgur Ozalp and Nazara Technologies.
Shares of Nazara Tech retreated from gains of as much as 9% during the last hour of Friday’s session, to trade at Rs 860 apiece, up 6%.
