2 days ago
Nazara Technologies Ltd on Thursday, December 19, said its subsidiary NODWIN Gaming, a leader in gaming, esports, and youth entertainment, has acquired gaming and esports media company AFK Gaming for ₹7.6 crore.
This acquisition involves a combination of cash and stock swap for 93% of AFK Gaming’s share capital, with NODWIN already holding the remaining 7%, Nazara Technologies said in a stock exchange filing.
The acquisition aims to strengthen NODWIN Gaming’s esports content production, distribution, and marketing capabilities, the filing added. This move is expected to boost NODWIN’s offerings to brands and publishers, thereby increasing its share in the growing marketing budgets allocated to the esports and gaming industry.
Founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming has been a key player in the Indian gaming and esports media space.
The company provides industry updates through its website and the business-focused newsletter Pixel P&L. Its agency arm, Max Level, offers tailored marketing services, including campaign management, content production, influencer programs, and PR for top-tier clients such as ASUS ROG, KRAFTON, and Jio Games.
NODWIN Gaming had earlier led AFK Gaming’s first investment round in 2017.
As part of the integration, AFK Gaming's founders will join NODWIN Gaming's leadership.
Nazara Technologies Latest Acquisitions
The deal comes as Nazara Tech continues its aggressive expansion in India and global markets.
On December 2, the company acquired Funky Monkeys for $5.16 million, strengthening its entertainment segment. Earlier, in October, Nazara acquired a 100% stake in UK-based growth marketing agency Space & Time for around £4.8 million (₹52.3 crore).
On August 8, it acquired Fusebox Games for $34.3 million, highlighting its focus on gaming content and global growth. In September, the company picked up a significant stake in Moonshine Technology, the parent company of PokerBaazi, for ₹ 982 crore.
Nazara Technologies increased its stake in Paper Boat Apps, the creator of the children’s app Kiddopia, by acquiring an additional 48.42% for ₹300 crore. Also, it acquired European esports company Freaks 4U Games for ₹271 crore.
Shares of Nazara Technologies were trading 1.78% lower at ₹1,032.5 on the BSE around 10:25 am.
