Nazara-backed Nodwin Gaming announced on Friday that its Singapore-based subsidiary has signed definitive agreements to increase its stake in Berlin-based Freaks 4U to 100% through a share swap deal valued at Rs 271 crore ($32.6 million).
Nodwin’s Singapore unit, which currently holds a 13.51% stake in Freaks 4U, will initially increase its stake to 57%, with the remaining 43% to be acquired at a later date. This strategic acquisition is expected to significantly bolster Nodwin’s capabilities by leveraging the expertise, experience, and network of the Freaks 4U team, contributing positively to the Nazara-backed company’s revenues.
Since acquiring a minority stake in Freaks 4U in January 2024, Nodwin has been collaborating with the German company’s management to integrate their businesses and evaluate potential synergies. This collaboration has already resulted in joint projects such as the PUBG Mobile Global Open and Esports World Cup (EWC).
Encouraged by the successful outcomes and early traction on potential synergies, Nodwin and Freaks 4U have decided to proceed with this full acquisition.
In March, Nazara announced plans to invest $100 million in mergers and acquisitions (M&A) over the next 24 months. Through Nodwin, it also acquired Comic Con India, which hosts multiple pop culture festivals targeting youth in India, earlier this year.
Nazara reported a 4.3% increase in revenue from operations, reaching Rs 1,138 crore in FY24, up from Rs 1,091 crore in FY23. Controlled costs and a surge in other income contributed to a 23% increase in profit, rising to Rs 75 crore in FY24 from Rs 61 crore in the previous fiscal year.
