NODWIN Gaming acquires 100% stake in AFK Gaming

Nazara Technologies’ subsidiary NODWIN Gaming has announced acquiring another 93% stake in gaming and esports media company AFK Gaming for Rs 7.6 crore via cash and equity swaps. 

With this, NODWIN Gaming has acquired full ownership of AFK Gaming, making it a wholly-owned subsidiary, after previously holding a 7% stake.

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

Founded by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar in 2012, AFK Gaming operates an agency vertical known as Max Level, which provides tailored marketing services to tournament organizers, game publishers, and brands. 

AFK Gaming’s clientele includes brands like ASUS ROG, CyberPowerPC India, KRAFTON, Saudi Esports Federation, ESL Faceit Group.

Recently, Nodwin’s parent entity Nazara Technologies Limited acquired 1,000 equity shares of Next Wave Multimedia and increased its equity holding in the latter to 74.88% from 71.88%. Nodwin Gaming has also received approval of Rs 64 crore in funding from its parent company Nazara Technologies.