Nazara Technologies has acquired 6,51,204 equity shares of Rs 10 each, representing 38.57% of the equity share capital of Funky Monkeys Play Centre (Funky Monkeys) from its existing shareholders against payment of cash consideration of Rs 28.7 crore.
Furthermore, Nazara Technologies has been allotted 3,61,773 equity shares of Rs 10 each, representing 21.43% of the equity share capital by Funky Monkeys against subscription money of Rs 15 crore paid by the Company.
With the completion of the aforesaid transaction, the Company holds 60% of the equity share capital of Funky Monkeys and Funky Monkeys has become a subsidiary of the Company.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
