NODWIN Gaming, a subsidiary of Nazara Technologies Limited, has announced the acquisition of AFK Gaming Pvt. Ltd., a gaming and esports media company subject to closing formalities. With this, AFK Gaming will become a fully owned subsidiary of NODWIN Gaming.
As per the company, this acquisition strengthens NODWIN Gaming’s esports related content production & distribution, and marketing & PR services capabilities. These capabilities will enhance NODWIN Gaming’s offerings to brands and publishers, making it a strong one-stop-shop for all esports & gaming related marketing activities and thereby increasing the share of wallet of marketing budgets for NODWIN Gaming.
The acquisition of 93% of the share capital of AFK Gaming will be a combination of cash and stock swap of NODWIN Gaming shares for a total consideration of Rs 7.6 Crores. NODWIN already owned the balance 7% of AFK previously. As part of this transaction, the founders will become shareholders of NODWIN Gaming and be integrated into different verticals in the NODWIN Gaming ecosystem.
Akshat Rathee, Co-Founder of NODWIN Gaming, said, “I have known Nishant, Sid and Rakesh since the inception of AFK Gaming. We all started out at the same time, while the esports industry in India was just beginning to pick up. I have learnt to admire their ability to persevere, pivot and be true to the fan. This focus is to be treasured. Once you have that respect and understanding of our strengths and weaknesses, working together is a natural causality. As we come together as one group, I welcome them as shareholders of NODWIN Gaming and as leaders in our group.”
Nishant will join the founders’ office to work on strategic initiatives across the NODWIN Group, while building out Pixel P&L as a media product within the company. Rakesh will be a part of the larger NODWIN team, focusing on augmenting the company’s ability to build tech led products and Siddharth will continue to head Max Level, focusing on high quality, cost efficient, marketing and PR services.
Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, Co-Founders of AFK Gaming, stated, “Joining the NODWIN group feels like a homecoming for us. When esports was barely a coined term, Akshat and us agreed to work to grow the market rather than compete in an industry that had yet to prove itself. Now that the industry has matured a bit, our existing synergies with NODWIN allow us to hit the ground running and we’re confident in our ability to unlock the next level of growth for the group.”
This deal complements NODWIN Gaming’s recent strategic moves, including the acquisition of Trinity Gaming India, Comic Con in India, German esports and gaming marketing agency Freaks 4U Gaming, West Asia and Turkey-focused marketing agency Publishme, Singapore-based live events firm Branded, and Turkish esports and gaming company Ninja Global.