Shares of Nazara Technologies Ltd. fell 1% after reaching a day’s high of Rs 1,048 on 19th December, following the announcement that its subsidiary, NODWIN Gaming, had acquired gaming and esports media company AFK Gaming for Rs 7.6 crore.
Nazara Technologies’ subsidiary, NODWIN Gaming, acquired 93% of AFK Gaming for Rs 7.6 crore, with the remaining 7% already held by NODWIN. The deal includes cash and a stock swap.
The acquisition aims to enhance NODWIN’s esports content production, distribution, and marketing, helping increase its share in the growing esports and gaming industry’s marketing budgets.
AFK Gaming, founded in 2012, provides industry updates and marketing services for top-tier clients like ASUS ROG, KRAFTON, and Jio Games.
AFK Gaming’s founders will join NODWIN Gaming’s leadership team as part of the integration.
Nazara Technologies has been aggressively expanding, with recent acquisitions including Funky Monkeys, Space & Time, Fusebox Games, PokerBaazi’s parent company, and Freaks 4U Games.
Nazara also increased its stake in Kiddopia’s creator, Paper Boat Apps, by 48.42% for Rs 300 crore.
At 2:24 PM, the shares of Nazara Technologies were trading 1.62% lower at Rs 1,035.25 on NSE.
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