Akshata Sharma
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Mumbai-based gaming company Nazara Technologies-owned Nodwin Gaming is acquiring the Berlin-based full-service gaming and esports agency Freaks 4U Gaming for Rs 271 crore, or about $32.5 million.
Nodwin Pte will initially increase its existing stake in Freaks 4U Gaming to 57%, and the remaining 43% 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.
Nodwin's Singapore unit currently holds a 13.51% stake in Freaks 4U Gaming.
Shares of Nazara Technologies climbed as much as 9 per cent to hit an intraday high of Rs 887.05 per share on Friday.
The uptick in share price came after Nazara Technologies said NODWIN Gaming will increase its ownership in leading European esports company Freaks 4U Gaming to 100 per cent through a share swap valued at Rs 271 crore (Euro 30.3 million).
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