Nodwin Gaming buys Comic Con India for Rs 55-cr
Managing team at Comic Con India will also become shareholders in Nodwin Gaming by swapping their 27.5 crore shares
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New Delhi: E-sports and gaming company Nodwin Gaming on Wednesday said it has acquired Comic Con India, which hosts pop cultural festivals targeting youth across the country, for Rs 55 crore.
As part of the transaction, Nodwin Gaming will acquire 100 per cent of the shares of Comic Con India at a valuation of Rs 55 crore through a combination of cash and share swap from the founders of Comic Con India -- Jatin Varma and Karan Kalra.
The managing team at Comic Con India will also become shareholders in Nodwin Gaming by swapping their 27.5 crore shares with Nodwin shares.
“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,” said Varma.
Kalra said this strategic partnership “will enable us to deliver amazing events and experiences to pop culture fans across India”. Founded in 2011, Comic Con India orchestrates various festivals across the country, celebrating a wide range of popular culture elements, including comics, cosplay movies, TV shows, merch, gaming and much more.
“Integration of Comic Con India will amplify and diversify the offering of Nodwin to all opportunities that target the youth in India,” said Akshat Rathee, Co-founder and Managing Director of Nodwin Gaming.
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, he added.
Nodwin Gaming is valued at $349 million and has established a presence in regions such as South Asia, Singapore, the Middle East, and Turkey. Notable investors include Nazara, Krafton, Sony Group Corporation and JetSynthesys.
