NODWIN Gaming Acquires AFK Gaming: Esports Media Deal

New Delhi, Dec 19 (PTI) NODWIN Gaming on Thursday said it has acquired a 93 per cent stake in gaming and esports media company AFK Gaming for a total consideration of Rs 7.6 crore.

NODWIN already held a 7 per cent stake in AFK previously, making the latter its fully-owned subsidiary now, according to a company statement.

"The acquisition of 93 per cent 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 crore.

"As part of this transaction, the founders will become shareholders of NODWIN Gaming and be integrated into different verticals in the NODWIN Gaming ecosystem," the statement said.

AFK Gaming was founded in 2012 by Nishant Patel, Rakesh Ramchandran and Siddharth Nayyar.

It provides the latest industry updates through its website and newsletter, Pixel P&L. It also has an agency vertical, Max Level, which offers marketing services.

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, the statement said.

Ramchandran will be a part of the larger NODWIN team, while Nayyar will continue to head Max Level, it said.

NODWIN Gaming is a material and independent subsidiary of Nazara Technologies Ltd.

It is valued at USD 410 million as of November 2024, according to the statement.