Nodwin Gaming, a subsidiary of Nazara Technologies, Thursday said it has signed an agreement to acquire gaming and esports media company AFK Gaming, in which it had also made a strategic investment in 2017.
The transaction will see Nodwin acquiring 92.3% equity of AFK founders Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar for a total of Rs 7.58 crore, including a cash consideration of Rs 4.59 crore, and the balance by way of equity shares in Nodwin.
The acquisition is subject to closing formalities. AFK Gaming’s turnover grew to Rs 6.29 crore in FY24 from Rs 5 crore in FY23 and Rs 4.30 crore in the preceding year.
The acquisition will strengthen Nodwin Gaming’s esports-related content production, distribution, marketing, and PR services capabilities. It will also help the company in improving its offerings to brands and publishers.
The acquisition completes the lifecycle of Nodwin’s strategic investment into the company, it said in a statement.
Founded in 2012, AFK Gaming provides gaming updates from the industry through its website and its gaming business newsletter Pixel P&L. Its agency vertical, Max Level, offers marketing services to teams, tournament organizers, game publishers and brands looking to connect with gaming and esports audiences.
These services include campaign management, IP building, content production, video editing, consultancy, social media marketing, influencer programs, and public relations and 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, and TVS, among others. Max Level has also worked with Nodwin for its IPs and white-label solutions.
Patel 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. Ramchandran will be a part of the larger NODWIN team and will focusing on augmenting the company’s ability to build tech-led products and Nayyar will continue to head Max Level.
Nodwin has been on an acquisition spree In the recent past. Its strategic moves, include 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.
