Nazara Technologies Limited announced that the company’s material subsidiary announced the acquisition of AFK Gaming Pvt. Ltd, a renowned gaming and esports media company.
This strategic move strengthens NODWIN Gaming’s capabilities in content production, distribution, and marketing services, further establishing it as a comprehensive solution provider for esports and gaming-related marketing activities. The acquisition also enhances NODWIN Gaming’s ability to attract more marketing budgets from brands and publishers, making it a one-stop shop for all esports needs.
The acquisition involves NODWIN Gaming acquiring 93% of the share capital of AFK Gaming through a combination of cash and a stock swap of NODWIN Gaming shares, totalling ₹7.6 crore. NODWIN Gaming already held the remaining 7% share in AFK.
The founders of AFK Gaming will now become shareholders of NODWIN Gaming and will integrate into various verticals within the NODWIN Gaming ecosystem. This acquisition completes the lifecycle of NODWIN’s strategic investment in AFK Gaming, which began in 2017 when NODWIN Gaming played a pivotal role in AFK Gaming’s first investment round.
Founded in 2012, AFK Gaming has been at the forefront of India’s gaming and esports media sector for over a decade. Known for providing the latest updates, its website and newsletter, Pixel P&L, cater to the gaming industry. AFK’s agency vertical, Max Level, delivers tailored marketing services to gaming and esports teams, tournament organisers, and game publishers. These services range from campaign management to social media marketing and public relations. AFK Gaming has partnered with global and local brands such as ASUS ROG, KRAFTON, Saudi Esports Federation, and Jio Games.
Following the acquisition, the founders of AFK Gaming will take on new roles within NODWIN Gaming. Nishant Patel will lead strategic initiatives across the NODWIN Group, while Rakesh Ramchandran will contribute to building tech-driven products. Siddharth Nayyar will continue to head Max Level, focusing on delivering efficient and high-quality marketing and PR services.
On December 19, 2024, Nazara Technologies share price opened at ₹1,025.90, touching the day’s low at ₹1,025.20, as of 10:50 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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