Through a convertible note, NODWIN Gaming, an esports-focused Nazara Technologies subsidiary, has invested INR 33.26 crore in Freaks 4U Gaming GmbH, a company located in Germany.
Nodwin Gaming International Pte. Ltd., the owned subsidiary of Nodwin Gaming Private Limited, a significant subsidiary of Nazara Technologies, made the investment. The convertible note is meant to be settled in cash, with a value of EUR 3,600,000.
“If conversion option of the convertible note is exercised the same will be converted into 7,366 shares at a future date/conversion date. The percentage of shareholding will depend on the terms and conditions of the said convertible no,” Nazara said.
NODWIN hopes to increase its proficiency with PC-Gaming with this investment.By enabling a smooth operation in both developed and growing regions, the partnership between NODWIN Gaming and Freaks 4U Gaming GmbH is anticipated to increase their appeal to international consumer brands and game publishers. The firm intends to use the funds to grow and develop new intellectual property as well as explore new markets.
Nazara Technologies Limited
Nazara Technologies Limited is a well established Mobile Gaming Company with HQ’s in India and Offices in Dubai, Africa & Singapore. Nazara Is India’s largest mobile entertainment platform with over 100 million monthly active users. Our network includes Nodwin Gaming (India’s #1 ESports Company), Nextwave Multimedia, SportsKeeda, Halaplay, Qunami and Nazara Digital (The Fastest growing Mobile Games Publisher Operating in 100+ Countries).
