Nodwin Gaming, the esports subsidiary of Nazara Technologies, announced a major move on January 24 by acquiring a 100 percent stake in Comic Con India for a substantial sum of Rs 55 crore. This strategic cash and stock deal involves Nodwin Gaming paying Rs 27.4 crore in cash and swapping Rs 27.5 crore worth of Comic Con India shares with its own.
Comic Con India, founded in 2011 by Jatin Varma and Karan Kalra, has become synonymous with pop culture festivals that target the youth demographic across India. These festivals celebrate a wide array of popular culture elements, including comics, cosplay, movies, television shows, merchandise, and gaming. The events have been held in major cities such as New Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai.
Despite the financial challenges posed by the Covid-19 pandemic, which reflected in Comic Con India’s financials, Nodwin Gaming plans to leverage this acquisition to expand the number of festivals and extend its reach to more cities in India and other countries.
Nodwin Gaming has been on an expansion spree in recent times, making strategic acquisitions and investments to strengthen its presence in both Indian and international markets. This includes a 51 percent stake in Singapore-based live events firm Branded, a significant stake purchase in the gaming and adjacent IP businesses of OML Entertainment, and the acquisition of a game marketing agency named Publishme. The company also raised $28 million in May 2023, with new investors like Sony Group Corporation and Innopark, propelling its valuation to $349 million.
The acquisition of Comic Con India adds another dimension to Nodwin Gaming’s portfolio, promising an enhanced experience for fans with a broader array of events celebrating the convergence of gaming, esports, comics, and popular culture. With this latest move, Nodwin Gaming aims to solidify its position as a leading player in the interactive entertainment sector, both in India and on the global stage.
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And what they said
Akshat Rathee, co-founder of Nodwin Gaming said in a statement released,
Integration of Comic Con India will amplify and diversify the offering of Nodwin to all opportunities that target the youth in India. With the continued intersection of Gaming/ Pop Culture/ esports into one interactive entertainment sector, Nodwin will add a strong and robust IP that is scalable both in India and Internationally.
For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together.
Jatin Varma, founder of Comic Con India said,
For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together.
