Nazara Tech's Nodwin Gaming invests €8 million in Germany's Freaks 4U Gaming
Summary
Nodwin Gaming, the esports subsidiary of Nazara Technologies, on January 31 announced an investment of 8 million (about Rs 75 crore) in Germany-based Freaks 4U Gaming in exchange for a 13.51 percent stake, as the company looks to bolster its capabilities in global markets.As per the deal, Nodwin Gamings Singapore subsidiary is investing 4.4 million (about Rs 41 crore) to buy a 7.4 percent stake. Headquartered in Berlin, Germany, the firm offers a range of solutions including strategic brand and marketing consultancy, social media and community management, editorial services, event management and logistics, and creative services.It also delivers broadcast productions as one of the most prominent esports content creators worldwide apart from providing other community-oriented solutions. The firm has regional offices across Europe, Asia, and North America and employs over 190 people.In August 2021, Freaks 4U Gaming raised 15 million from Co-Investor Partners, a private equity investor focused on high-growth, small and mid-sized companies in German-speaking countries. We hold continuous admiration for the team at Freaks as we jointly explore new avenues for cooperation," said Nodwin Gaming co-founder Akshat Rathee in a statement. The round valued the firm at $349 million, a significant jump from its earlier valuation of $135 million when it last raised funds in March 2021.Over the past year or so, the startup has sought to expand its offerings in India and international markets through a series of acquisitions and investments.Last week, it purchased Comic Con India, which hosts pop culture festivals in India, for Rs 55 crore to bolster its events portfolio.In October 2023, Nodwin Gamings Singapore unit acquired a 100 percent stake in game marketing agency Publishme for $2 million from parent firm Nazara Technologies and Publishme co-founder Ozgur Ozalp to boost its existing offerings for brands and publishers.Other acquisitions and investments include a 51 percent stake purchase in Singapore-based live events firm Branded in an all-cash deal of up to $1.3 million in April 2023; buying the gaming and adjacent IP businesses of OML Entertainment for Rs 73 crore in September 2021, including the popular NH7 Weekender music festival; and picking up a 10.26 percent stake in digital media firm Rusk Media for Rs 10 crore in December 2021.Nodwin Gaming also bought a 35 percent stake in gaming accessories maker Brandscale Innovations, which makes high-quality and affordable gaming audio gear under the brand name Wings in April 2022 and purchased comics, pop culture and superheroes merchandising retailer Planet Superheroes for Rs 4.9 crore in January 2022.