New Delhi, June 28: E-sports and gaming company NODWIN Gaming on Friday said that it will be acquiring Berlin-based global full-service gaming and esports agency Freaks 4U Gaming for Rs 271 crore. The company’s Singapore-based subsidiary NODWIN Gaming International Pte has signed definitive agreements to increase its existing 13.51 per cent stake in Freaks 4U Gaming to 100 per cent in tranches through a share swap.
“This acquisition is a pivotal step in our global growth strategy. By integrating Freaks 4U Gaming’s expertise and resources, we are poised to deliver unparalleled services and expand our global footprint in the gaming and esports industries,” Akshat Rathee, Co-Founder of NODWIN Gaming, said in a statement. Xbox Gaming Coming To Select Amazon Fire TV Sticks, Gamers Can Play Directly From Xbox App Without Requiring Console.
NODWIN Pte will initially increase its existing stake in Freaks 4U Gaming to 57 per cent and the remaining 43 per cent 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, according to the company. Stream Game Recording Feature Launched: Steam Introduces New Built-In System Game Recording Option As Beta; Check Its Key Benefits (Watch Video).
“With our shared vision and ambition, we look forward to driving our global expansion while spearheading innovation and growth for gaming and esports,” said Haenisch. Freaks 4U Gaming offers a multitude of agency services and best-in-case solutions to brands and publishers and generated Rs 223 crores in 2023. Last year, NODWIN Gaming’s Singapore acquired a 100 per cent stake in game marketing agency PublishME for $2 million from its existing shareholders Nazara Technologies and Ozgur Ozalp.
(The above story first appeared on LatestLY on Jun 28, 2024 01:51 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
