Nazara Technologies Limited — Important, 19-12-2024: Updates

Nodwin Gaming Private Limited, a material subsidiary of Nazara Technologies, has acquired 92.30% of AFK Gaming Private Limited for a total consideration of INR 7.58 Crores. The payment structure includes INR 4.59 Crores in cash and INR 2.99 Crores through equity share swap. This acquisition, set for completion within 60 days, aims to enhance Nodwin's management capabilities, PR agency offerings, and media distribution strategies by incorporating AFK’s founders into its leadership.

AFK, founded in 2012, operates in the Gaming & Sports Entertainment industry, posting a turnover of INR 6.29 Crores for FY 2023-24. With this strategic move, Nodwin is expected to solidify its market position and leverage AFK's expertise, paving the way for growth opportunities in the gaming sector. Investors should watch this development closely as it expands Nodwin's operational scope.