Highlights
NODWIN gaming Expands Its Reach with Complete Acquisition of AFK Gaming
NODWIN Gaming, a subsidiary of Nazara Technologies, has successfully secured an additional 93% ownership in the esports and gaming media firm AFK Gaming for ₹7.6 crore through a combination of cash and equity deals. This strategic move grants NODWIN full control over AFK Gaming, which it previously held only a 7% stake in.
Key Highlights of the Acquisition
- Full Ownership: NODWIN Gaming now holds 100% ownership of AFK Gaming.
- Acquisition Value: The acquisition was made for ₹7.6 crore.
- Strategic Integration: The founders of AFK gaming will transition into shareholders within NODWIN Gaming and will be incorporated into various functions throughout the NODWIN ecosystem.
Synergy and Prospective Growth
The collaboration between NODWIN gaming and AFK Gaming is expected to enhance cooperation across diverse sectors within the gaming industry. This strategic move aims to leverage the strengths of both companies to drive growth and innovation.
A closer Look at AFK Gaming
Established in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming has made critically important strides with its agency branch known as Max Level. This segment specializes in delivering customized marketing strategies for tournament organizers, game developers, and brands aiming to connect with gaming enthusiasts.
Key Clients of AFK Gaming:
- ASUS ROG
- CyberPowerPC India
- KRAFTON
- Saudi Esports Federation
- ESL Faceit Group
Recent Developments at Nazara Technologies
In addition to the acquisition news from NODWIN Gaming, Nazara Technologies Limited has recently garnered attention by acquiring 1,000 equity shares from Next Wave Multimedia. this transaction elevates its ownership interest in Next Wave from 71.88% to an notable 74.88%. Moreover, NODWIN has been granted approval for ₹64 crore in funding from its parent company Nazara Technologies.
This strategic acquisition and integration are expected to bolster NODWIN Gaming’s position in the gaming industry, leveraging the combined strengths of both companies to drive future growth and innovation.