Nodwin Gaming, a subsidiary of Nazara Technologies, has announced its acquisition of Comic Con India. The acquisition, valued at ₹55 crore, involves both cash and stock transactions.
What Happened: As per a report by Moneycontrol, Nodwin Gaming is set to acquire a 100% stake in Comic Con India, a leading pop culture festival organizer. The ₹55 crore deal includes ₹27.4 crore in cash and a share swap worth ₹27.5 crore. Jatin Varma and Karan Kalra, the founders of Comic Con India, will continue to manage the business under the Nodwin Gaming umbrella.
Nodwin Gaming’s acquisition aims to further bolster and diversify its offerings to the youth. The company is also planning to increase the number of festivals and extend its reach to capture new audiences.
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Comic Con India, renowned for organizing pop culture festivals in cities such as New Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai, faced severe impacts due to the COVID-19 pandemic. However, the company is hopeful about delivering “amazing events and experiences to pop culture fans across India” via its partnership with Nodwin Gaming.
Akshat Rathee and Gautam Singh Virk, co-founders of Nodwin Gaming, have been steadily expanding the company’s portfolio in India and abroad through a series of acquisitions and investments.
Why It Matters: This acquisition marks a significant milestone for Nodwin Gaming, as it seeks to expand its foothold in the esports and gaming industry. By acquiring Comic Con India, the company stands to diversify its portfolio and tap into the lucrative pop culture market. This move could potentially boost the company’s visibility and appeal among a younger audience, thereby driving its growth in the future.
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