E-sports division of Nazara Technologies, Nodwin Gaming is set to acquire a 51 percent stake in Branded, a live events company based in Singapore. This all-cash deal comes as a part of the company’s strategy to increase its global reach.
According to a stock market filing, Nodwin Gaming’s Singapore subsidiary, Nodwin International Pte Ltd, is carrying out the transaction through a mix of primary capital injection and secondary stock acquisitions from Branded’s current shareholder. The deal will be funded by internal cash reserves of Nodwin Gaming, according to moneycontrol.
All That Matters’, ‘It’s a Girl Thing’ and ‘CreatorWorld’ are a few of the IPs that Nodwin Games will be acquiring with this transaction. A global team led by Donat will join the firm and work to increase sponsorship income for all of Nodwin Gaming’s IPs in India and throughout the world.
Co-founder and Managing Director of Nodwin Gaming, Akshat Rathee said, “We are excited to bring Branded into our fold at Nodwin Gaming adding its multiple facets to expand and grow our ecosystem. IPs like ‘Gaming Matters’, ‘Sports Matters’ and ‘It’s A Girl Thing’ will add a new dimension to what we already offer. We will also look at the talented branded team taking our existing IPs such as Playground, The Premiership, NH7 and others international.”
Nazara have also reported an 80% year-on-year revenue growth and a 22% profit after tax (PAT) growth in 9MFY23 and plans to maintain that level for FY24.
During the recent Silicon Valley Bank (SVB) collapse, Nazara reported that two of its subsidiaries Kiddopia Inc and Mediawrkz Inc were holding cash balances at SVB but assured that there was no impact on the performance as the companies were already maintaining healthy cash reserves.
The company have already been to make moves in the online gaming sector including Web3/blockchain gaming, metaverse and have already acquired WildWorks, the makers of one of the most popular learning product for kids named Kiddopia.
Along with this, the company also owns Sportskeeda, one of the most popular gaming media house, which recently acquired majority stake of 73.27% in Pro Football Network LLC (PFN), a popular news portal for NFL and college football in US.