Big news about Nazara Technologies’ subsidiary – new company bought
Nazara Technologies Ltd said its subsidiary Nodwin Gaming, a leader in gaming, esports and youth entertainment, has acquired gaming and esports media company AFK Gaming for Rs 7.6 crore, Nazara Technologies said in a stock exchange filing. The acquisition sees Nodwin acquire 93% of the stock capital of AFK Gaming through a combination of cash and stock swap, while Nodwin already owns the remaining 7%.
The acquisition aims to strengthen Nodwin Gaming’s esports content production, distribution and marketing capabilities. The move is expected to provide better services to brands and publishers, thereby increasing Nodwin’s share of the growing marketing budgets in the esports and gaming industry. Founded in 2012 by Nishant Patel, Rakesh Ramachandran and Siddharth Nair, AFK Gaming has been a major player in the Indian gaming and esports media sector.
Industry updates
The company provides industry updates through its website and business-focused newsletter Pixel P&L. Its agency division, Max Level, provides customized marketing services, including campaign management, content production, influencer programs, and PR. Its key clients include ASUS ROG, KRAFTON, and Jio Games. Nodwin Gaming led AFK Gaming’s first investment round in 2017. As part of the integration, AFK Gaming’s founders will join Nodwin Gaming’s leadership team.
Nazara Technologies acquisitions
The deal comes amid Nazara Technologies’ aggressive expansion in India and global markets. On December 2, the company acquired Funky Monkeys for $5.16 million, strengthening its entertainment segment. Earlier, in October, Nazara bought a 100% stake in UK-based growth marketing agency Space & Time for around £4.8 million (₹52.3 crore).
On August 8, the company acquired Fusebox Games for $34.3 million, reflecting its focus on gaming content and global development. In September, the company took a significant stake in PokerBaazi’s parent company Moonshine Technology for Rs 982 crore. Nazara Technologies also raised its stake in Paper Boat Apps, the maker of kids’ app Kiddopia, by buying an additional 48.42% for Rs 300 crore. Besides, it acquired European esports company Freaks 4U Games for Rs 271 crore. Shares of Nazara Technologies were trading down 1.78% at Rs 1,032.5 at 10:25 am on the BSE.
