NODWIN Gaming to Fully Acquire Freaks 4U Gaming in Rs 271 Crore Deal

• ByStartupStory     |    June 28, 2024

NODWIN Gaming, a material subsidiary of Nazara Technologies, is set to acquire a 100 per cent stake in European esports company Freaks 4U Gaming GmbH. The acquisition, valued at Rs 271 crore (Euro 30.3 million), will be executed through a share swap deal, enhancing NODWIN’s presence in the global esports arena.

In a statement released on Friday, the Singapore-based NODWIN Gaming International Pte announced, “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).”

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 acquired later at NODWIN’s option. The statement clarified, “The remaining 43 per cent held by the founders Michael Haenisch, Matthias Remmert and Jens Enders will be swapped at a later time at its option. Existing investors of Freaks 4U Gaming will become shareholders of NODWIN Pte.”

Freaks 4U Gaming generated revenue of Rs 223 crore (Euro 26.9 million) in 2023. NODWIN initially acquired a minority stake in Freaks 4U in January 2024. The collaboration between the two companies has already yielded successful projects such as the PUBG Mobile Global Open and Esports World Cup (EWC), and they have explored new business verticals together.

Akshat Rathee, Co-Founder of NODWIN Gaming, emphasized the strategic importance of this acquisition. “The acquisition is a pivotal step in the company’s global growth strategy,” Rathee stated.

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