Nazara Technologies saw a surge in its share price on Friday, climbing as much as 9% to reach an intraday high of Rs 887.05 per share. This increase came after the company announced that NODWIN Gaming, a subsidiary, will be acquiring 100% ownership of leading European esports company Freaks 4U Gaming through a share swap valued at Rs 271 crore (Euro 30.3 million).
The acquisition of Freaks 4U Gaming is a strategic move by Nazara Technologies to strengthen its presence in the esports industry. With the growing popularity of esports globally, this acquisition is expected to further enhance Nazara’s position as a key player in the market.
Investors reacted positively to the news, driving up the share price of Nazara Technologies. The company’s stock has been performing well in recent times, and this latest development is likely to boost investor confidence even further.
Overall, the acquisition of Freaks 4U Gaming is a significant milestone for Nazara Technologies, and the company is poised for continued growth and success in the esports sector.
