The deal, valued at INR 7.6 crores, involves a mix of cash and a stock swap, with NODWIN Gaming already owning the remaining 7 per cent prior to this acquisition
Nazara Technologies increased its stake in Nextwave Multimedia to 74.88%, investing INR 2.3 crore. It plans a second tranche acquisition for INR 19.33 crore, further expanding its gaming sector footprint.
The raised funds will be primarily allocated to fuel NODWIN Gaming's ongoing expansion momentum, focusing on enhancing its capabilities, growing its portfolio of intellectual properties (IPs), and strengthening its presence in emerging markets.
The raised amount is going to be invested in Funky Monkeys, Learntube.ai, and subsidiaries including Nodwin Gaming, Sportskeeda, and Datawrkz, bolstering gaming, education, and entertainment ecosystem for strategic growth.
The acquisition involves a 100% purchase of Trinity's share capital, combining a cash payment of INR 4.8 crore and a stock swap worth INR 19.2 crore. Founders Abhishek Aggarwal and Shivam Rao will retain leadership roles while becoming shareholders in NODWIN Gaming.