Nazara Technologies’ Nodwin Gaming acquires AFK Gaming for Rs 7.6 crore

New Delhi: Nodwin Gaming announced the acquisition of AFK Gaming.

This acquisition strengthens Nodwin Gaming’s esports-related content production and distribution, and marketing & PR services capabilities. 

In a statement, Nodwin Gaming wrote that this acquisition will enhance its offerings to brands and publishers, making it a strong one-stop-shop for all esports and gaming-related marketing activities.”

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 Crores. 

Nodwin already owned the balance of 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.

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. 

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 be 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.

Akshat Rathee, Co-Founder of Nodwin Gaming, commented, “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.”

Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar, Co-Founders of AFK Gaming, stated: “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!”