Nazara's NODWIN to acquire Freaks 4U Gaming in Rs 271 crore deal

NODWIN Gaming, a subsidiary of Nazara Technologies, announced on Friday that it will increase its stake to 100 per cent in the European e-sports company Freaks 4U Gaming through a share swap deal valued at approximately Rs 271 crore.

NODWIN Gaming International Pte, based in Singapore, will enhance its current 13.51 per cent stake in Freaks 4U Gaming GmbH to full ownership in several tranches, according to a company statement.

"NODWIN Gaming International Pte has signed definitive agreements to increase its existing 13.51 per cent stake in Freaks 4U Gaming GmbH to 100 per cent in tranches through a share swap valued at up to Rs 271 crore (Euro 30.3 million)," the company stated.

Initially, NODWIN will raise its stake in Freaks 4U to 57 per cent. The remaining 43 per cent, currently held by founders Michael Haenisch, Matthias Remmert, and Jens Enders, will be swapped at a later stage at NODWIN's discretion. Consequently, existing investors of Freaks 4U Gaming will become shareholders of NODWIN Pte.

In 2023, Freaks 4U generated revenue of Rs 223 crore (Euro 26.9 million). NODWIN had previously acquired a minority stake in Freaks 4U in January 2024.

The two companies have already collaborated on high-profile projects such as the PUBG Mobile Global Open and Esports World Cup (EWC), and have explored new business vertical opportunities, the statement added.

"This acquisition is a pivotal step in our global growth strategy," said Akshat Rathee, Co-Founder of NODWIN Gaming.

(With PTI inputs)