NODWIN Gaming, a subsidiary of Nazara Technologies, announced today the acquisition of AFK Gaming Pvt. Ltd. for ₹7.6 crores through a combination of cash and stock swap. The deal gives NODWIN Gaming complete ownership of the gaming media company, adding to its existing 7 per cent stake.
The shares of Nazara Technologies Limited were trading at ₹1,031.05 up by ₹21.25 or 2.02 per cent on the NSE today at 12:12 pm.
Read also: NODWIN Gaming acquires Trinity Gaming for ₹24 crore
The acquisition will see AFK Gaming’s founders becoming shareholders in NODWIN Gaming while taking up roles within different verticals of the company. Nishant Patel will join the founders’ office, Rakesh Ramchandran will focus on tech-led products, and Siddharth Nayyar will continue leading Max Level, AFK’s marketing agency division.
Founded in 2012, AFK Gaming has established itself as a gaming and esports media company, offering services through its Max Level agency and Pixel P&L newsletter. The company’s client portfolio includes major brands such as ASUS ROG, KRAFTON, and Saudi Esports Federation.
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This acquisition strengthens NODWIN Gaming’s position in content production, distribution, and marketing services within the gaming sector. It follows the company’s recent strategic acquisitions, including Trinity Gaming India, Comic Con India, and Freaks 4U Gaming. NODWIN Gaming, valued at $410 million as of November 2024, continues to expand its presence in emerging markets across South Asia, Singapore, the Middle East, and Turkey.
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Published on December 19, 2024
https://www.thehindubusinessline.com/markets/stock-markets/nodwin-gaming-acquires-afk-gaming-for-76-crore/article69003608.ece
