Jan 24: Nazara Technologies Ltd has acquired a 55 percent stake in Nodwin Gaming Pvt Ltd, a Gurugram-based gaming solutions company and creator of e-sports events, through cash and stock deal.
Nazara Technologies’ has not shared the financial details, but said that along with helping Nazara create and execute its own e-sports tournaments, Nodwin will also aid in expanding e-sports into other emerging markets, to work with Nazara to get more global publishers to India and create e-sports on mobile. The company added that Nodwin will operate as an independent subsidiary of Nazara.
Nodwin Gaming Pvt Ltd is a joint venture between founders Akshat Rathee and Gautham Virk, and Jetsynthesys Pvt. Ltd, a Pune-based firm that owns several digital media properties.
Electronic sports or e-sports, a business estimated to worth almost $1.5 billion by 2020, is a digital media format where virtual game play is monetized as video content and manipulated to be displayed like football matches.