Global mobile gaming company Nazara Technologies has acquired a majority stake of 55% for an undisclosed amount in leading Indian esports venture Nodwin Gaming through a mix of a cash and stock deal, as reported by Mint and VC Circle. Post acquisition, Nodwin will continue to operate as an independent subsidiary.

Jerome Merchant + Partners advised Nodwin Gaming, founder & promoter Akshat Rathee and other founding shareholders including Jet Synthesis in the deal, led by partner Murtaza Somjee along with associate Minal Sangatwani.

Cyril Amarchand Mangaldas acted for the Mumbai-based mobile content and games developer Nazara Technologies and was represented by partner Arjun Lal and associate Malavika Chandu.

Founded in 2014, Gurugram-based Nodwin Gaming is an equal joint venture between Akshat Rathee, Gautam Virk and Jetsynthesys, and has pioneered e-sports in the country with established relationships with global gaming publishers and platforms including such as ESL and Valve Corporation. It was also reported that the current acquisition will help Nazara commit to the development of the esports ecosystem to enable competitive online and offline gaming and boost esports as a spectator sport in India.

2018-01-24