Nazara’s Nodwin Gaming acquires AFK Gaming

by CryptoExpert
Blockonomics


Nodwin Gaming, a gaming and esports division of Indiaโ€™s Nazara Technologies, has acquired AFK Gaming, a gaming and esports media company.

Mumbai-based Nazara owns Nodwin Gaming, and now AFK Gaming will becomeย aย fully owned subsidiary ofย Nodwinย Gaming.

This acquisition strengthensย Nodwinย Gamingโ€™s esports related content production and distribution, and marketing and PR services capabilities. These capabilities will enhanceย Nodwinย Gamingโ€™s offerings to brands and publishers, making itย aย strong one-stop-shop for all esports and gaming related marketing activities and thereby increasing the share of wallet of marketing budgets forย Nodwinย Gaming.

The acquisition of 93% of the share capital of AFK Gaming will beย aย combination of cash and stock swap ofย NODWINย Gaming shares forย aย total consideration of INR 7.6 Crores.ย 

Binance

Nodwinย already owned the balance 7% of AFK previously. As part of this transaction, the founders will become shareholders ofย Nodwinย Gaming and be integrated into different verticals in theย Nodwinย Gaming ecosystem.

In 2017,ย Nodwinย Gaming led AFK Gamingโ€™s first round of investment asย aย strategic investor, helping the founders turn their hobby intoย aย business. This acquisition completes the lifecycle ofย Nodwinโ€™s strategic investment into the company, making AFKย aย 100% subsidiary on close.

Founded in 2012 by Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, AFK Gaming has been at the forefront of the Indian gaming and esports media industry for overย aย decade.

Apart from providing the latest updates from the industry through its website and its specially curated gaming business newsletter Pixel P&L, its agency vertical, Max Level, offers bespoke marketing services to teams, tournament organizers, game publishers and brands looking to connect with gaming and esports audiences.

This includes campaign management, IP building, content production, video editing, consultancy, social media marketing, influencer programs and public relations & communications as well. Its clientele includes brands like Asus ROG, CyberPowerPC India, Krafton, Saudi Esports Federation, ESL Faceit Group, The Esports World Cup, Jio Games, TVS and more. Max Level has worked closely withย Nodwinย Gaming forย aย majority of its IPs and white-label solutions.

Patel will join the foundersโ€™ office to work on strategic initiatives across theย Nodwinย Group, while building out Pixel P&L asย aย media product within the company. Ramchandran will beย aย part of the largerย Nodwin team, focusing on augmenting the companyโ€™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.



Source link

You may also like