Nazara’s subsidiary has invested $86 million (€8 million) in Germany-based Freaks 4U Gaming for a 13.51% stake, said the company in a regulatory filing.
As a result of this transaction, NODWIN will look to appoint Neils Wolter to the advisory board of Freaks 4U Gaming to consult on strategy, operations, and integration, Nazara said in the filing. Wolter is currently the VP of International Licensing and Projects at ESL FaceIt Group.
Post this investment, NODWIN will get access to the Freaks 4U Gaming network across the developed markets, the PC ecosystem, and the full-service capabilities, while Freaks 4U Gaming will get access to NODWIN ’s emerging market network, facility capabilities in the mobile esports and youth culture ecosystems.
NODWIN has the option to acquire majority control in the future by swapping equity of Freaks 4U Gaming investors and founders with NODWIN shares, it said.
This is the second time Nazara has increased its stake in a company. Recently, it acquired a 10.77% stake in Kofluence. NODWIN also recently completed its acquisition of Comic Con India for Rs 55 crore.
In an interview with YourStory, Nitish Mittersain, Founder and CEO, and Joint Managing Director at Nazara, said the company will look towards more emerging trends.
Edited by Megha Reddy
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