Bengaluru, 28 June: Nodwin Gaming, the esports and events arm of listed media and gaming firm Nazara Technologies, will acquire German esports and gaming marketing agency Freaks 4U Gaming for 30.3 million Euros (around Rs 271 crore).

In an exchange filing, Nazara Technologies said the buyout will happen in a share swap deal. Currently, Nodwin holds a 13.51 per cent stake in Freaks 4U. Initially, the company’s Singapore unit will increase its take in Freaks 4U Gaming to 57 per cent. The rest 43 per cent stake will be acquired at a later date, Nazara said.

Freaks 4U Gaming offers a multitude of agency services and solutions to brands and publishers. The company reported a revenue of Rs 223 crore (Euro 26.9 million) in 2023.

This acquisition will significantly enhance NODWIN Gaming's capabilities, bringing in the expertise, experience and network of the Freaks 4U Gaming team and is expected to contribute materially to NODWINs revenues going forward, Nazara Technologies said.

"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. In Michael, we have a person who is highly regarded across the world for his wealth of experience and expertise in the sectors. We also welcome all existing shareholders of Freaks 4U Gaming as NODWIN Gaming’s shareholders," Cofounder of NODWIN Gaming, Akshat Rathee said.

Commenting on the development, CEO of Freaks 4U Gaming, Michael Haenisch said, "We are thrilled to be joining forces with NODWIN Gaming to create a robust network and synergies unprecedented in our industry. With our shared vision and ambition, we look forward to driving our global expansion while spearheading innovation and growth for gaming and esports.”