Nazara Technologies’ esports subsidiary, NODWIN Gaming, is set to acquire 100% stake in Comic Con India for INR 55 Cr ($6 Mn) in a cash and stock deal, signaling a significant move in the entertainment and gaming space. With the buyout, NODWIN aims not only to diversify its youth-centric portfolio but also strategically expand its presence in the global entertainment landscape.
Details of the Acquisition: According to a filing, NODWIN Gaming will acquire the entire stake in Comic Con India, solidifying its commitment to the rapidly evolving realm of pop culture and gaming. The management team at Comic Con India will become shareholders in NODWIN Gaming through a share swap, exchanging Comic Con India shares worth 27.5 Cr for NODWIN shares.
Strategic Vision and Cultural Celebration: Comic Con India, founded in 2011, has played a pivotal role in creating a unique space in India for promoting and celebrating popular culture. The company orchestrates festivals across major cities, showcasing a diverse range of elements including comics, cosplay, movies, TV shows, gaming, and more. This strategic partnership with NODWIN Gaming is seen as the next step in building upon the shared goal of promoting and enhancing the pop culture experience in India.
Jatin Varma, founder of Comic Con India, expressed excitement about the collaboration, stating, “I am very excited to join hands with NODWIN Gaming in taking the next step and building upon this goal together.”
Creating a Unique Platform: The merger of Comic Con India into NODWIN Gaming is poised to create a unique platform for gaming and pop culture enthusiasts. The collaboration aims to expand the reach of festivals to additional cities and markets, providing an interactive and immersive experience for fans across India.
Karan Kalra, partner & director at Comic Con India, remarked, “This strategic partnership will enable us to deliver amazing events and experiences to pop culture fans across India.”
NODWIN Gaming’s Continued Expansion: Founded in 2014, NODWIN Gaming, under the leadership of Akshat Rathee, has been actively expanding its footprint. The esports company owns various gaming and sports entertainment intellectual properties (IPs), offering a range of sports-related products and services. Nazara Technologies acquired a majority stake in NODWIN Gaming in 2018.
Akshat Rathee, cofounder and managing director of NODWIN Gaming, highlighted the intersection of gaming, pop culture, and esports, stating, “NODWIN will add a robust IP that is scalable both in India and Internationally.”
Recent Acquisitions and Strategic Moves: NODWIN Gaming has been on an acquisition spree, reflecting its commitment to growth and innovation. The company acquired a 51% stake in mediatech startup Branded in an all-cash deal worth $1.3 Mn. Additionally, NODWIN invested INR 33.26 Cr in Germany-based Freaks 4U Gaming GmbH in December.
The acquisition of Comic Con India further solidifies NODWIN Gaming’s position as a key player in the entertainment and gaming industry, with a focus on creating unparalleled experiences for enthusiasts across the country.
