NODWIN Gaming Acquires Esports Media Company AFK Gaming
- ByStartupStory | December 19, 2024
NODWIN Gaming, a subsidiary of Nazara Technologies, announced the acquisition of gaming and esports media company AFK Gaming for Rs 7.6 crore. This deal includes the purchase of 93% of AFK Gaming’s share capital through a combination of cash and stock swap, with NODWIN Gaming already holding the remaining 7%. Following the acquisition, AFK Gaming will become a fully owned subsidiary of NODWIN Gaming.
The acquisition is poised to enhance NODWIN’s esports content production, distribution, and marketing efforts, positioning the company for further growth in the rapidly expanding esports sector. NODWIN Gaming’s Co-founder, Akshat Rathee, shared his excitement about the acquisition and the long-standing relationship with AFK Gaming’s founders.
“I have known Nishant, Sid, and Rakesh since the inception of AFK Gaming. We all started out at the same time, while the esports industry in India was just beginning to pick up. We have built respect for each other over time by butting heads, competing, collaborating and supporting each other when there was little hope,” said Rathee. “As we come together as one group, I welcome them as shareholders of NODWIN Gaming and as leaders in our group. I look forward to the many missions we will pick up and go on together.”
AFK Gaming, founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, has established a strong presence in the esports media landscape. The company has worked with prominent clients, including CyberPowerPC India, KRAFTON, Saudi Esports Federation, The Esports World Cup, Jio Games, and TVS. Post-acquisition, the founders of AFK Gaming will join various verticals within NODWIN Gaming and become shareholders of the parent company.
“Joining the NODWIN group feels like a homecoming for us. When esports was barely a coined term, Akshat and us agreed to work to grow the market rather than compete in an industry that had yet to prove itself. This led to a long and trust-imbued relationship where Akshat watched over us as a friend, investor, mentor, and board member. Now that the industry has matured a bit, our existing synergies with NODWIN allow us to hit the ground running and we’re confident in our ability to unlock the next level of growth for the group!” said Patel, Ramchandran, and Nayyar, Co-founders of AFK Gaming.
This acquisition marks a significant milestone in NODWIN Gaming’s expansion plans, as it continues to scale its esports-related initiatives. The company’s parent, Nazara Technologies, has been on an acquisition spree in 2024, acquiring 15 companies so far, according to data website Tracxn. This move is in line with Nazara’s efforts to strengthen its portfolio and diversify its product offerings in the gaming and esports industries.
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