NODWIN Gaming to Acquire Freaks 4U Gaming

NODWIN Gaming to Acquire Freaks 4U Gaming

Mergers and Acquisitions

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.

More:1win Series Dota 2 Summer Winners Crowned

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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NODWIN Gaming to Acquire Freaks 4U Gaming

Mergers and Acquisitions

01 July 2024 15:16

Tags: NODWIN Gaming Freaks 4U Gaming

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.

More:1win Series Dota 2 Summer Winners Crowned

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.”

Share:

Sources:

Report mistake   

Submit news   

Related news

View All

NODWIN Gaming Acquires StarLadder

NODWIN Gaming has acquired StarLadder, a major esports event producer for $5.5m. StarLadder will maintain its identity, with founder...

Mergers and Acquisitions

Jan 31, 2025

NODWIN Gaming Secures $7.5m Investment

NODWIN Gaming, has announced that its parent company, Nazara Technologies Limited, has approved an investment of $7.5m into the...

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Dec 05, 2024

NODWIN Gaming to Acquire Trinity Gaming

India-based games and esports company Nodwin Gaming has acquired gaming agency Trinity Gaming for $2.8 million. The Nazara subsidiary will...

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Nov 29, 2024

Freaks 4U Gaming Employees Hit by Layoffs

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NODWIN Gaming has invested €8m in Freaks 4U Gaming GmbH. The conversion of a convertible loan agreement, initiated on...

Investments

Jan 31, 2024