Indian esports and gaming firm NODWIN Gaming has introduced the acquisition of digital esports media agency AFK Gaming.
After the acquisition, AFK Gaming will turn out to be a step-down subsidiary of NODWIN Gaming, enhancing the latter’s choices for esports and gaming-related advertising and marketing actions.
Based on a launch, NODWIN Gaming entered right into a share buy settlement with AFK Gaming’s shareholders, buying a 92.30% stake within the media agency. That is valued at an combination consideration of Rs 7.58 crore (~£704,600).
Of the whole consideration, Rs 4.59 crore (~£426,700) can be paid in money, whereas Rs 2.99 crore can be obtained by way of a swap of NODWIN’s fairness shares.
Previous to the acquisition, NODWIN already held a 7% stake within the AFK Gaming. As part of this transaction, AFK Gaming’s founders will turn out to be shareholders of the corporate and be built-in into totally different verticals of NODWIN Gaming’s ecosystem.
Based by Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, AFK Gaming is an Indian digital media agency specialising in B2B and esports protection. In February 2024, the agency launched a digital advertising and marketing and PR vertical known as Max Stage.
NODWIN detailed that the acquisition intends to strengthen the corporate’s choices to provide and distribute esports-related content material and improve its current capabilities to offer PR companies.
In a launch, Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, Co-Founders of AFK Gaming, commented on the acquisition: “Becoming a member of the NODWIN group looks like a homecoming for us.
“When esports was barely a coined time period, Akshat and us agreed to work to develop the market quite than compete in an trade that had but to show itself. This led to a protracted and trust-imbued relationship the place Akshat watched over us as a good friend, investor, mentor and board member. Now that the trade has matured a bit, our current synergies with NODWIN permit us to hit the bottom operating and we’re assured in our capability to unlock the following stage of progress for the group!”
