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NODWIN Gaming has announced the acquisition of digital esports media firm AFK Gaming

by VARINDIA 2024-12-20

The acquisition will enable both companies to pool their resources and leverage their expertise to provide more engaging content, thereby attracting a larger audience and fostering deeper engagement within the esports ecosystem.

NODWIN Gaming has entered into a share purchase agreement with AFK Gaming’s shareholders, acquiring a 92.30% stake in the media firm. This is valued at an aggregate consideration of Rs 7.58 crore. Post acquisition, AFK Gaming will become a step-down subsidiary of NODWIN Gaming, enhancing the latter’s offerings for esports and gaming-related marketing activities. Of the total consideration, Rs 4.59 crore would be paid in cash, while Rs 2.99 crore would be received via a swap of NODWIN’s equity shares.

Prior to the acquisition, NODWIN already held a 7% stake in the AFK Gaming. As a part of this transaction, AFK Gaming’s founders will become shareholders of the company and be integrated into different verticals of NODWIN Gaming’s ecosystem. This strategic move aims to enhance NODWIN Gaming's capabilities in delivering high-quality esports content and expanding its footprint in the rapidly growing gaming sector.

In a release, Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, Co-Founders of AFK Gaming, commented on the acquisition: “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!”

NODWIN detailed that the acquisition intends to strengthen the company’s offerings to produce and distribute esports-related content and enhance its existing capabilities to provide PR services. By acquiring AFK Gaming, NODWIN Gaming not only strengthens its content portfolio but also positions itself as a comprehensive player in the esports ecosystem, encompassing events, talent management, and content production.

This acquisition aligns with NODWIN Gaming’s mission to build a robust gaming culture by supporting and nurturing talent, delivering world-class events, and now, enriching the storytelling aspect of esports. AFK Gaming’s expertise in creating engaging and informative content will complement NODWIN’s extensive experience in organizing tournaments and managing gaming properties.

The acquisition of AFK Gaming marks a significant step in the evolution of India’s esports industry. By combining forces, the two entities are poised to set new benchmarks in content creation, community engagement, and the overall growth of the gaming sector. With this acquisition, the future of esports content in India looks promising, paving the way for a more inclusive and vibrant gaming ecosystem.