Nazara Technologies’ NODWIN Acquires AKF Gaming for INR 7.6 Cr

-The acquisition is a combination of cash and stock swap deal for 93% of AFK Gaming’s share capital.

-Following the acquisition AKF’s founders will join NODWIN Gaming's leadership.

-Nazara is intensifying its aggressive expansion strategy with a series of recent acquisitions.

India’s listed games company, Nazara Technologies Ltd’s subsidiary NODWIN Gaming, has acquired gaming and esports media company AFK Gaming for INR 7.6 Cr.

The acquisition is a combination of cash and stock swap deal for 93% of AFK Gaming’s share capital. NODWIN already holds the remaining 7% in AKF. In 2017, NODWIN Gaming led AFK Gaming’s first round of investment as a strategic investor. 

Now, with the current acquisition deal, Nazara has completely acquired AFK, with a 100% subsidiary on close.

Following the acquisition AKF’s founders will join NODWIN Gaming's leadership.

The acquisition of AFK Gaming by NODWIN Gaming, as outlined in Nazara's stock exchange filing, marks a strategic move to enhance NODWIN's capabilities in esports content production, distribution, and marketing. 

This acquisition is expected to strengthen NODWIN's offerings to brands and publishers, positioning it to capture a larger share of the increasing marketing budgets allocated to the esports and gaming sectors.

AFK Gaming, founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, has established itself as a significant force in the Indian gaming and esports media landscape. 

Popular for providing insightful industry updates through its website and the business-centric newsletter Pixel P&L, AFK Gaming has carved a niche for itself.

Further, its agency division, Max Level, offers a range of tailored marketing services, including content production, campaign management, influencer programs, and public relations. 

Max Level's client list includes names such as ASUS ROG, KRAFTON, and Jio Games. 

Nazara On an Acquisition Spree 

It’s evident to note that Nazara Technologies is intensifying its aggressive expansion strategy both within India and internationally, with a series of recent acquisitions. 

Recently, on December 2, Nazara acquired Funky Monkeys for $5.16 million, further boosting its entertainment segment. Earlier, in October, the company expanded its global marketing reach by acquiring a 100% stake in the UK-based growth marketing agency Space & Time for approximately £4.8 million (INR 52.3 Cr). 

This followed a major acquisition on August 8, where Nazara purchased Fusebox Games for $34.3 million, signifying its focus on expanding gaming content and achieving global growth.

In addition to these acquisitions, Nazara made a significant investment in the Indian gaming market. 

In September, it acquired a substantial stake in Moonshine Technology, the parent company of PokerBaazi, for INR 982 Cr, further cementing its position in the online gaming space. 

The company also increased its stake in Paper Boat Apps, the creator of the popular children's app Kiddopia, by acquiring an additional 48.42% for INR 300 Cr.

Additionally, Nazara expanded its footprint in the esports arena by acquiring European esports company Freaks 4U Games for INR 271 Cr in June, 2024.