Nazara Technologies’ material subsidiary -- NODWIN Gaming has acquired AFK Gaming, a leading gaming and esports media company subject to closing formalities. With this, AFK Gaming will become a fully owned subsidiary of NODWIN Gaming. This acquisition strengthens NODWIN Gaming’s esports related content production & distribution, and marketing & PR services capabilities. These capabilities will enhance NODWIN Gaming’s offerings to brands and publishers, making it a strong one-stop-shop for all esports & gaming related marketing activities and thereby increasing the share of wallet of marketing budgets for NODWIN Gaming.
The acquisition of 93% of the share capital of AFK Gaming will be a combination of cash and stock swap of NODWIN Gaming shares for a total consideration of Rs 7.6 crore. NODWIN already owned the balance 7% of AFK previously. As part of this transaction, the founders will become shareholders of NODWIN Gaming and be integrated into different verticals in the NODWIN Gaming ecosystem. 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. This acquisition completes the lifecycle of NODWIN's strategic investment into the company, making AFK a 100% subsidiary on close.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
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