Nazara Technologies Ltd.’s shares were up by 1.67 per cent after its subsidiary Nodwin Gaming International invested €8 million, securing a 13.51 per cent stake in Freaks 4U Gaming. The investment, facilitated through a convertible loan agreement of €3.6 million initiated on December 27, 2023, has now been converted into equity.
As part of the agreement, Nodwin and Freaks 4U Gaming will leverage resources in personnel, equipment, and facilities. Nodwin gains access to Freaks 4U Gaming’s network in developed markets, the PC ecosystem, and full-service capabilities. Freaks 4U Gaming, in return, obtains access to Nodwin’s emerging market network and facility capabilities in the mobile esports and youth culture ecosystems.
Akshat Rathee, co-founder of Nodwin Gaming, said, “Our collaborative journey with Freaks is growing stronger, especially in the realms of PC and mobile gaming. We hold continuous admiration for the team at Freaks as we jointly explore new avenues for cooperation. This financial contribution is a testament to our unwavering commitment to advancing together on this shared venture.”
The shares were up by 1.67 per cent to ₹886.45 on the BSE.