M&A
Nazara arm Nodwin acquires 93% in e-sports media co. AFK Gaming for Rs.7.6 Cr
Gurugram-headquartered e-sports and gaming platform Nodwin Gaming , a subsidiary of listed gaming firm Nazara Technologies, has acquired 93% stake in Mumbai-based gaming and e-sports media company AFK Gaming for INR 7.6 crore in a combination of cash and stock swap. Nodwin already owns 7% in AFK.Post acquisition, AFK will become a fully-owned subsidiary of Nodwin. The founders will become the shareholders and be integrated into different verticals in the company.Nodwin Gaming had led AFK Gaming’s first round of investment as a strategic investor in 2017.Founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming provides a subscription model and a premium gaming business newsletter, offering quality content and insights to game developers. Its clients include CyberPowerPC India, Krafton, Saudi Esports Federation, The Esports World Cup, Jio Games and TVS.
In the year Sept 2020, AFK Gaming raised USD 200,000 from Inflection Point Ventures .
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