Nodwin Gaming, the esports and events division of Nazara Technologies, has finalized a significant acquisition by acquiring German esports and gaming marketing agency Freaks 4U Gaming in a share swap deal valued at approximately Rs 271 crore (30.3 million euros).
Nazara Technologies disclosed in a stock exchange filing that Nodwin’s Singapore unit will initially increase its stake in Freaks 4U Gaming to 57%, with plans to acquire the remaining 43% at a later stage. Nodwin had previously held a 13.51% stake in Freaks 4U.
Nazara Technologies’ CEO, Nitish Mittersain, had previously indicated plans for multiple acquisitions, including gaming studio acquisitions for Nazara Publishing, as part of a broader strategy to expand into markets like India, Europe, and North America.
Freaks 4U Gaming specializes in providing marketing services to major gaming companies and events, boasting clients such as Riot Games, EA Sports, Epic Games, and Tencent. The firm reported a revenue of 26.9 million euros in 2023.
“Since acquiring a minority stake in Freaks 4U Gaming, Nodwin has been actively collaborating with their management on integrating the two businesses. Together, they have successfully delivered high-profile projects like the PUBG Mobile Global Open and Esports World Cup (EWC),” stated Nazara Technologies in a press release.
Nodwin Gaming has emerged as a key revenue contributor for Nazara, generating Rs 427 crore in the last fiscal year. Nazara Technologies reported a total revenue of Rs 1,138 crore for FY24.
In addition to the acquisition of Freaks 4U Gaming, Nodwin Gaming has recently expanded its portfolio through acquisitions of entities such as Comic Con India, Publishme (a marketing firm focused on West Asia and Turkey), Branded (based in Singapore), and Ninja Global (a Turkish esports and gaming firm).