Nazara subsidiary Nodwin acquires 93% stake in AFK gaming for $900,000
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Dec 20, 2024 | acquisition | Nazara Nodwin Gaming | $0.9m |
Nazara Technologies-owned Nodwin Gaming has acquired an additional 93% stake in esports media company AFK Gaming for ₹7.6 crore ($900,000) through cash and equity swaps.
The acquisition makes AFK Gaming a fully-owned subsidiary of Nodwin Gaming, which previously held a 7% stake. This move is expected to boost Nodwin's content production and marketing capabilities. AFK Gaming's founders will become shareholders of Nodwin as part of the deal.
Founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming is based in Mumbai and operates an agency division called Max Level with which it offers marketing services to tournament organisers, game publishers, and brands.
Pushing boundaries
“I have known Nishant, Sid and Rakesh since the inception of AFK Gaming,” said Nodwin Gaming co-founder Akshat Rathee. “We all started out at the same time, while the esports industry in India was just beginning to pick up.
“We have built respect for each other over time by butting heads, competing, collaborating and supporting each other when there was little hope."
Recently, Nodwin acquired gaming agency Trinity Gaming for ₹24 crore ($2.8m). Elsewhere, its parent company Nazara continues to invest in startups including acquiring a 60% stake in Funky Monkeys Play Centers for ₹43.7 crore ($5.24m) and investing ₹4.2 crore ($500,000) for a 4.7% stake in Google-backed AI learning platform LearnTube.
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