YOU ARE HERE >  Moneycontrol Markets > Announcements SoftwareAnnouncement - Nazara
BSE: 543280NSE: NAZARAISIN: INE418L01021

21st-Sep-2021 23:38Source: BSE

Nazara Technologies - Announcement under Regulation 30 (LODR)-Updates on Acquisition

With reference to the captioned subject and in furtherance to our letter dated June 17, 2021, we wish to inform you that Publishme Global FZ LLC, one of step- down wholly owned subsidiary of the Company, have signed definitive agreements on September 20,2021 with Arrakis Tanitim Organizasyon Pazarlama San.Tic. Ltd. Sti. (Publishme) and the founders and shareholders of Publishme and Nazara Technologies FZ LLC for the following matters:
1. proposed acquisition of 100% stake of Publishme through secondary purchase from the founders and existing shareholders of Publishme; and
2. subscription of 30.82% stake by the founders of Publishme in Publishme Global FZ LLC.

Post completion of both above transaction, the Company through its step-down wholly owned subsidiary company i.e. Publishme Global FZ LLC, will hold 69.18% stake in Publishme.