Listed entity Nazara Technologies on Tuesday informed exchanges that its arm Nodwin Gaming has approved the acquisition of a 35% stake in Brandscale Innovations for around Rs 10 crore.
Brandscale Innovations, which operates in India, is a newly incorporated entity and does not have a history of turnover, the company said. Nodwin will acquire a 35% equity stake in Brandscale Innovations by subscribing 567 equity shares of Rs. 100 each
Brandscale Innovations Private Limited deals in the business of trading, and manufacturing gaming accessories including but not limited to audio headphones and other gaming accessories across computers and mobile.
The deal may be completed in approximately a month.
Nazara Technologiesare is the leading India based diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, and offerings across the interactive gaming, eSports and gamified early learning ecosystems.