MUMBAI: Digital entertainment and technology company JetSynthesys Thursday announced the acquisition of a controlling stake in Chennai-based Skyesports, one of India’s largest e-sports organisations with a grassroots play.
The firm has created a new entity called Jet Skyesports Gaming Pvt Ltd with a vision to build e-sports at the grassroot level in India ahead of the Asian Games 2022, which will include e-sports as a medal event for the first time in the history of all such tournaments.
The acquisition, the deal size for which was not disclosed, will see JetSynthesys own 65% stake and the founders holding 35%.
Rajan Navani, vice chairman and managing director, JetSynthesys, commented: “We are happy to have Shiva and his team as part of the JetSynthesys family. Next year is a year of reckoning for e-sports globally as it becomes a medal event at the Asian Games, the first in the history of any such prestigious global tournament.
“Indian gaming has immense potential, and the talent which resides in the non-metros often goes unnoticed. Our vision, therefore, is to build e-sports at the grassroot level and empower individuals who have a passion for gaming make a career of it. Through Jet Skyesports, we will grow the esports ecosystem to cover the deepest parts of India, to make it more mainstream, and to also mould international-level talent from here to represent the country at global events as powerful contenders.”
Skyesports has expanded significantly from its core in South India to expand its base within the country. It has the most number of tournament IPs in India with a combined total viewership of over 100 million across all platforms (Facebook, YouTube, and Loco). The company introduced the Skyesports League this year which featured the first league format in Indian esports history and also became the most-watched VALORANT tournament in the country to date. It amassed a total viewership of over 10 million, becoming the first e-sports event in India for a PC game to achieve such a feat.
“This is a well-timed partnership and we are very happy that JetSynthesys and Skyesports’ vision are on the same track. The esports and gaming market is growing at a rapid pace in the country and the investment comes as a strategic move and at the right time to explore bigger opportunities,” said Shiva Nandy, CEO and founder of Skyesports. “We will work together to create many IPs for the gaming and esports enthusiasts in the country. Our core focus will still be on the grassroots level and on regional content and we will expand exponentially, added Gnana Shekar, CMO of Skyesports.”
With a concerted focus across gaming, digital entertainment, JetSynthesys has, in a short span of time since its launch, seen exponential growth and been the usherer of many category firsts. The brand is known for its deep tech stacks in new technologies like AI, Blockchain, AR/VR/MR and quantum computing. Apart from gaming and digital entertainment, JetSynthesys is known for its strong play in the social community arena. It is home to 100MB, the first-of-its kind digital destination for all things cricket.
JetSynthesys has offices in Japan, UK, EU, US and India.
