Indian esports company NODWIN Gaming acquires AFK Gaming
Indian esports and gaming company NODWIN Gaming has recently announced the acquisition of digital esports media firm AFK Gaming, marking a significant move in the industry.
After the acquisition, AFK Gaming will operate as a step-down subsidiary of NODWIN Gaming, enriching the latter’s offerings for esports and gaming-related marketing activities.
The share purchase agreement between NODWIN Gaming and AFK Gaming’s shareholders resulted in NODWIN acquiring a 92.30% stake in the media firm, with an aggregate consideration of Rs 7.58 crore (~£704,600).
Out of the total consideration, Rs 4.59 crore (~£426,700) is set to be paid in cash, while Rs 2.99 crore will be received through a swap of NODWIN’s equity shares.
Prior to this acquisition, NODWIN already held a 7% stake in AFK Gaming. As part of this deal, AFK Gaming’s founders will transition to become shareholders of the company and will be integrated into various verticals of NODWIN Gaming’s ecosystem.
Strengthening the esports content offering
AFK Gaming, founded by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, is a prominent Indian digital media firm specializing in B2B and esports coverage. In early 2024, the company expanded its portfolio by launching a digital marketing and PR vertical named Max Level.
NODWIN Gaming emphasized that this acquisition aims to fortify the company’s capabilities in generating and disseminating esports-related content, as well as enhancing its existing PR services.
In a statement, Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, Co-Founders of AFK Gaming, expressed their thoughts on the acquisition, stating, “Joining the NODWIN group feels like a homecoming for us. When esports was still nascent, we chose to collaborate with Akshat to cultivate the market rather than compete in an industry that was yet to prove its potential. Our shared vision has laid a strong foundation for a trusting relationship, and we are excited to leverage the synergies with NODWIN to propel further growth for the group.”