Merger and Acquisition

Nazara Technologies’ Subsidiary NODWIN Gaming Acquires Ninja Global for $3.57 Million

• ByStartupStory     |    June 11, 2024

Nazara Technologies’ subsidiary, NODWIN Gaming International Pte Ltd, has successfully acquired Ninja Global FZCO (Ninja) for $3.57 million (approximately INR 29.8 crore) in a strategic cash and stock deal. This acquisition is aimed at enhancing NODWIN Gaming’s presence and capabilities in the esports and gaming production sectors across the UAE and Turkey.

Ninja Global, known for its significant footprint in the esports and gaming production landscape, will now become a part of NODWIN Gaming Private Limited. This acquisition follows Nazara’s earlier announcement in February regarding NODWIN Gaming’s entry into a share purchase agreement with Planzet FZCO and its founders, Gokhan Kazar and Doruk Demirsa, to acquire a 100% stake in Ninja Global.

The deal, finalized on June 7 through a secondary transaction, involved a cash consideration of $1.32 million, with the remaining stake valued at $2.24 million acquired through the issuance of preference shares of NODWIN Gaming International. According to Nazara’s stock exchange filings, NODWIN Gaming International paid $1 million in cash upfront and disbursed around $2.24 million via the issuance of preference shares. The balance of $320,063 will be paid to Planzet FZCO in cash upon completion of the sale shares transfer registration with capital markets regulator SEBI.

“The Ninja Global buyout will help strengthen NODWIN’s global emerging market delivery network and empower the company to provide enhanced solutions to publishers and brands in the Middle East and Turkey,” Nazara stated in February.

This acquisition is part of Nazara’s aggressive expansion strategy. In October last year, Nazara acquired games marketing services company PublishMe for $2 million. In January, NODWIN Gaming announced plans to acquire a 100% stake in Comic Con India for INR 55 crore ($6 million) in a cash and stock deal to diversify its youth portfolio and expand its presence in the global entertainment space. Additionally, the company committed to invest €8 million (around INR 71.8 crore) in Germany-based marketing services company Freaks 4U Gaming GmbH.

NODWIN Gaming’s parent company, Nazara Technologies, recently raised around INR 510 crore from a group of investors, including Zerodha cofounder Nikhil Kamath and SBI Mutual Fund. Speaking to Inc42, CEO Nitish Mittersain said, “The company would invest the fresh capital in gaming studios capable of producing top-tier games tailored for both the Indian and global markets.”

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