Update: July 12 2024
The Singapore-based subsidiary of Nazara Technologies Ltd’s unit NODWIN International Pte on Thursday July 11, acquired 52,683 shares in Freaks 4U Gaming GmbH worth Rs 213 crore which amounts to 43.97% stakes in the gaming company.
Singapore-based NODWIN is a subsidiary of NODWIN Gaming, which is subsequently a subsidiary of Nazara Technologies. This takes the e-sport and gaming company’s total stake in the gaming company to 57% from the previous acquisition in January 2024 and in turn, makes Freaks 4U a subsidiary of NODWIN Singapore as well as a step-down subsidiary of NODWIN and the Nazara company.
Nazara’s exchange filing reports that the acquisition has come with the issuance and allotment of 132,446 Class A Preference shares of NODWIN Singapore holding an equal value.
June 28 2024
Nazara-backed Nodwin Gaming has announced that its Singapore-based subsidiary will acquire German gaming company Freaks 4U for Rs 271 crore ($32.6 million) in a share swap deal. This acquisition will increase Nodwin’s stake in Freaks 4U from 13.51% to 100% in tranches.
Initially, Nodwin’s Singapore unit will raise its stake to 57%, with the remaining 43% to be swapped later. This strategic move is expected to significantly enhance Nodwin’s capabilities, leveraging the expertise, experience, and network of the Freaks 4U team, thereby contributing to Nodwin’s revenue growth.
Since acquiring a minority stake in Freaks 4U in January 2024, Nodwin has been collaborating closely with the company’s management to integrate their businesses and evaluate potential synergies. The teams have already worked together on projects such as the PUBG Mobile Global Open and Esports World Cup (EWC). The success of these collaborations and the early traction on synergies prompted Nodwin and Freaks 4U to proceed with the full acquisition.
In March, Nazara announced plans to invest $100 million in mergers and acquisitions over the next 24 months. Through Nodwin, it also acquired Comic Con India, which hosts pop culture festivals targeting youth, in January this year.
Nazara’s revenue from operations increased by 4.3% to Rs 1,138 crore in FY24 from Rs 1,091 crore in FY23. Controlled costs and a surge in other income helped Nazara post a 23% increase in profit to Rs 75 crore in FY24 from Rs 61 crore in the previous fiscal year.
This acquisition of Freaks 4U aligns with Nodwin’s strategy to expand its footprint in the global gaming industry and capitalize on the growing esports market.
