Esports company ESL has acquired a minority stake in Indian games publisher Nazara Technologies.
MTG-backed ESL runs amateur and professional leagues for a variety of games across the globe, hosting both online and real-world tournaments.
As part of the deal it has also signed a licence agreement with Nazara-owned esports outfit Nodwin Gaming that will see the latter secure multi-year exclusive licensing rights for the ESL system and ESL community platform to organise and operate ESL competitions in India.
Nodwin has also secured the media distribution rights for ESL global content to local linear and digital platforms in the Indian subcontinent.
The move follows Nazara’s acquisition of a 55 per cent stake in Nodwin announced in January 2018.
It’s previously been reported that Nazara is eyeing up an IPO in which it will look to sell $157 million worth of shares. The company’s valuation is thought to likely to be between $470 million and $550 million.