Nazara Technologies’ material subsidiary-- Nodwin Gaming has received an approval for the acquisition of 27,987 equity shares of Rs 10 each of Superhero Brands from existing shareholders (Sellers), in one or more tranches, aggregating to 100% equity stake of Superhero Brands, on such terms and conditions, as mutually agreed in the Share Purchase Agreement proposed to be entered between the Sellers and the Company, for a consideration of Rs 4.90 crore. With this, Superhero Brand shall become the wholly owned subsidiary of Nodwin and subsidiary of Nazara.
On acquisition Superhero become wholly owned subsidiary of Nodwin and this will give Nodwin an entry in D2C business catering to gaming fans across the country by increasing its offerings with licensed merchandise. The Board of Directors of the company at their meeting held on January 12, 2022, has approved the acquisition of the same.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition to and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
