Written by Dante Uzel on 01 July 2024 15:16
NODWIN Gaming, through its Singapore-based subsidiary NODWIN Gaming International Pte, has announced plans to acquire a majority stake of 57% in Berlin-based global gaming and esports agency, Freaks 4U Gaming.. This acquisition, valued at up to $32.5m, will be conducted in tranches through a share swap agreement.
The remaining 43% stake held by founders Michael Haenisch, Matthias Remmert, and Jens Enders may be acquired by NODWIN Pte at a later date at its discretion. Existing investors of Freaks 4U Gaming, including Co-Investor FRE and Game.Fin S.R.L, will become shareholders of NODWIN Pte as part of the agreement.
Prior to this acquisition announcement, Freaks 4U Gaming CEO Michael Haenisch announced on LinkedIn a series of layoffs, attributing them to the company's rapid growth during the COVID-19 pandemic followed by adjustments necessitated by the post-pandemic economic environment.
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Co-Founder of NODWIN Gaming, Akshat Rathee stated “In Michael, we have a person who is highly regarded across the world for his wealth of experience and expertise in the sectors. We also welcome all existing shareholders of Freaks 4U Gaming as NODWIN Gaming’s shareholders.”
Tags: NODWIN Gaming Freaks 4U Gaming
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