Nodwin Gaming, backed by Nazara, said on Friday that its Singapore-based subsidiary had finalized agreements to raise its share swapping stake in Berlin-based Freaks 4U to 100% in phases.
According to a stock exchange filing by Nazara, Nodwin’s Singapore unit, which currently owns a 13.51% stake in Freaks 4U, will initially increase its existing stake to 57% of the latter, with the remaining 43% to be swapped at a later date. The deal is worth $32.6 million, or Rs 271 crore, in total.
With the knowledge, experience, and network of the Freaks 4U team, this acquisition will greatly expand Nodwin’s capabilities and is anticipated to increase revenue for the Nazara-backed business.
Nodwin has been assisting Freaks 4U’s management with the integration of the two companies and assessing the opportunities for synergies ever since the company acquired a minority stake in Freaks 4U in January 2024. The PUBG Mobile Global Open and the Esports World Cup (EWC) are just two of the projects that the two teams have previously collaborated to deliver.
Nodwin and Freaks 4u have chosen to move forward with this transaction based on the results of this exercise and early traction on possible synergies.
Nazara declared in March that it would allocate $100 million to mergers and acquisitions (M&A) over the course of the following 24 months. It also bought Comic Con India through Nodwin, which organizes several pop culture festivals in January of this year aimed at young people in India.
From Rs 1,091 crore in FY23 to Rs 1,138 crore in FY24, Nazara’s operating revenue climbed by 4.3%. Nazara reported a 23% increase in profit to Rs 75 crore in FY24 from Rs 61 crore in FY23, largely due to controlled costs and a spike in other income.
