Sections

Nazara buys majority stake in Indian esports firm

Nodwin Gaming sells 55 per cent stake, will now operate as a subsidiary of Nazara

Nazara Technologies has acquired a majority stake in Nodwin Gaming, as it pushes ahead with its ambitions to develop an esports ecosystem in India.

The value of the deal was not disclosed, but Nazara now owns 55 per cent of Nodwin Gaming. Nazara Technologies CEO Manish Argawal said the acquisition would help to create "a robust player and community orientated esports ecosystem" that would allow Indian teams to compete in international tournaments.

Nodwin was co-founded in 2014 by Gautam Virk and Askhat Rathee, who is the company's CEO and managing director. Rathee echoed Argawal's comments, describing the deal as opening up, "a wide vista of opportunities for Indian esports players to build careers domestically and internationally."

Nodwin, which has relationships with leading esports companies like ESL and Valve, will operate as an independent subsidiary of Nazara.

In February 2017, Nazara pledged to invest $20 million across five years in the Indian esports scene. It is said to be considering a $550 million IPO before the end of the current fiscal year.

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