Nazara Technologies informs about disclosure

28 Jun 2024 Evaluate
In furtherance to earlier intimation dated January 31, 2024 and in compliance with Regulation 30 read with Schedule III of the Listing Regulations, Nazara Technologies has informed that Nodwin Gaming International (Nodwin Singapore), a wholly owned subsidiary of Nodwin Gaming (Nodwin), a material subsidiary of the Company, on June, 27, 2024 has signed agreements for acquiring the balance 86.49% stake of Freaks 4U Gaming GmbH (Freaks 4U), for a value of EUR 30,360,000 (Thirty Million Three Hundred Sixty Thousand Euros Only) (equivalent to approx. INR 271.48 Crores) by share swap. Nodwin Singapore, which currently holds 13.51% stake of Freaks 4U, on completion of the transaction will hold 57% stake and will have an exclusive right to acquire the balance 43% stake from the Freaks 4U founders, at its discretion. Freaks 4U Gaming GmbH domiciled in Germany, is a gaming & esports-focused company, delivering its services to brands & publishers across the world. This acquisition is set to bolster Nodwin’s access to developed markets, in addition to execution and planning capabilities in PC gaming and games publishing support services. The integration of Freaks 4U’s capabilities, along with its presence in key developed markets, will serve as substantial revenue drivers. This strategic alignment will complement Nodwin’s strong execution capabilities in emerging markets, enabling the establishment of a global delivery model - a pioneering achievement in the esports sector. The proposed transaction is subject to fulfilment of certain customary conditions precedent and other terms and conditions as set forth in the agreements. The details in this regard, pursuant to Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023 and SEBI Circular No. SEBI/HO/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, is enclosed as Annexure-A.

The above information is a part of company’s filings submitted to BSE.

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