NODWIN Gaming, a material subsidiary of Nazara Technologies, has wholly acquired AFK Gaming, a leading gaming and esports media company wherein it already held a 7% stake by acquiring the remaining 97% stakes for a cash and stock swap combination of its shares for a total consideration of Rs 7.6 Crores.
Subject to closing formalities, this development will lead to AFK Gaming’s Founders becoming shareholders of NODWIN Gaming and as a result join different verticals within the company while continuing the Agency business- Max Level and the B2B newsletter- Pixel P&L, as AFK Gaming will become a fully owned subsidiary of NODWIN Gaming post the acquisition.
This acquisition strengthens NODWIN Gaming’s esports related content production and distribution, and marketing and PR services capabilities as well as enhances its offerings to brands and publishers, making NODWIN Gaming a one-stop-shop for all esports and gaming related marketing activities, all leading to an increase in the share of wallet of marketing budgets for NODWIN Gaming.
In 2017, NODWIN Gaming led AFK Gaming’s first round of investment as a strategic investor, helping the founders turn their hobby into a business. As a result, this deal completes the lifecycle of NODWIN’s strategic investment into the company, making AFK a 100% subsidiary on close.
Founded in 2012 by Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, AFK Gaming has been at the forefront of the Indian gaming and esports media industry for over a decade. Apart from providing the latest updates from the industry through its website and its specially curated gaming business newsletter- Pixel P&L as well as its agency vertical- Max Level, AFK Gaming offers bespoke marketing services to teams, tournament organizers, game publishers and brands looking to connect with gaming and esports audiences.
This includes campaign management, IP building, content production, video editing, consultancy, social media marketing, influencer programs and public relations and communications as well.
Currently, its clientele includes brands like ASUS ROG, CyberPowerPC India, KRAFTON, Saudi Esports Federation, ESL Faceit Group, The Esports World Cup, Jio Games, TVS and more.
Furthermore, as part of this acquisition, Patel will join the founders’ office to work on strategic initiatives across the NODWIN Group, while building out Pixel P&L as a media product within the company; Ramchandran will become a part of the larger NODWIN team, focusing on augmenting the company’s ability to build tech led products; and Nayyar will continue to head Max Level, focusing on high quality, cost efficient, marketing and PR services.
Sharing his views on AFK Gaming’s acquisition, Akshat Rathee, Co-Founder, NODWIN Gaming, said, “I have known Nishant, Sid and Rakesh since the inception of AFK Gaming. 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. I have learnt to admire their ability to persevere, pivot and be true to the fan. This focus is to be treasured. Once you have that respect and understanding of our strengths and weaknesses, working together is a natural causality. As we come together as one group, I welcome them as shareholders of NODWIN Gaming and as leaders in our group. I look forward to the many missions we will pick up and go on together.”
To this, the trio behind AFK Gaming- Patel, Ramchandran and Nayyar, added, “Joining the NODWIN group feels like a homecoming for us. When esports was barely a coined term, Akshat and us agreed to work to grow the market rather than compete in an industry that had yet to prove itself. This led to a long and trust-imbued relationship where Akshat watched over us as a friend, investor, mentor and board member. Now that the industry has matured a bit, our existing synergies with NODWIN allow us to hit the ground running and we’re confident in our ability to unlock the next level of growth for the group!”
