NEW DELHI: Mobile games publishers Nazara Technologies Ltd has acquired a 55 per cent stake in Gurugram-based Nodwin Gaming Pvt. Ltd, a gaming solutions company and creator of e-sports events, through a cash-and-stock deal.
Post acquisition, Nodwin will become an independent subsidiary of Nazara. The financial terms of the acquisition was not disclosed.
Nazara had last February pledged to invest Rs 1.36 billion ($20 million) over five years in the esports space to grow it as a separate business for the company.
Launched in 2014, Nodwin is an equal joint venture between founders Akshat Rathee and Gautam Virk, and Jetsynthesys Pvt. Ltd, a Pune-based firm which owns several digital media properties.
Both Jetsynthesys and Nodwin promoters have diluted their stake in the Nodwin as part of the deal, Nazara chief executive officer Manish Agarwal stated.
“Through this acquisition we aim to provide Indian esports enthusiasts a robust player and community-orientated esports ecosystem, in which players can thrive, improve their skills and become top competitors at an international level,” said Agarwal.
Nodwin Gaming CEO Akshat Rathee added: “Esports is one of the fastest growing sports worldwide. This acquisition by Nazara Games adds to the credibility of Nodwin and opens up a wide vista of opportunities for Indian esports players to build careers domestically and internationally.
“It strengthens our ability to provide our key stakeholders better experiences and bigger opportunities to engage with our community.”
Nodwin has exclusive partnerships with Electronics Sports League, Esports World Convention, among others, and manages IP-based gaming events such as the ESL India Premiership, KO Fight Nights, The Intel Extreme Masters qualifiers for India and Electronic Sports World Cup (ESWC) India Qualifiers.
Nodwin also partners with other leading brands to create multiple gaming properties in India such as The esports arena at Indian Gaming Show by CII, The Asus ROG Masters, etc.
With the acquisition, Nazara plans to create gaming tournaments in India, including localized content around global events (ESL One, ESL Pro League, Intel Extreme Masters, The International by Valve, etc) and expand on its partnership with publishers and advertisers.
Nazara, which is currently firming up plans for an initial public offering, has been on an acquisition spree since it raised Rs3.3 billion from India Infoline Finance Ltd in December.
Earlier this month, it acquired a majority stake in Chennai-based NextWave Multimedia Pvt. Ltd, the company behind World Cricket Championship mobile game. In the past, Nazara has made undisclosed investments in Moonfrog Labs and Truly Social.
