NODWIN Gaming Marks Milestone with Comic Con India Acquisition
By siliconindia | Thursday, 25 January 2024, 09:03 IST
NODWIN Gaming, a prominent player in South Asia's esports and gaming sector, has reached a significant milestone with the acquisition of Comic Con India, well-known for organizing diverse pop cultural festivals that captivate the youth in India. This strategic move not only expands NODWIN Gaming's youth-focused portfolio but also marks a substantial entry into the global entertainment arena. As per the agreement, NODWIN Gaming will secure 100% of Comic Con India's shares, valuing the transaction at Rs 55 Crore. The acquisition will involve a combination of cash and share swap, with Comic Con India founders Jatin Varma and Karan Kalra continuing to lead the business under NODWIN Gaming.
What sets this acquisition apart is that the leadership team at Comic Con India will become stakeholders in NODWIN Gaming by exchanging 27.5 Crores of their Comic Con India shares for NODWIN shares, showcasing their confidence in NODWIN Gaming's vision and future strategy. Established in 2011, Comic Con India has grown into a company organizing various festivals across India, commemorating diverse elements of popular culture, including comics, cosplay, movies, TV shows, merch, gaming, and more. These festivals, hosted in cities like New Delhi, Mumbai, Bengaluru, Hyderabad, and Chennai, have become integral to India's cultural calendar.
Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, expressed excitement about the development, stating, "We are delighted to welcome the management team of Comic Con India as partners and shareholders in NODWIN Gaming. Their trust in our vision reinforces our commitment to expanding our entertainment offerings".
The incorporation of Comic Con India into NODWIN Gaming's portfolio is set to establish a distinctive platform for gaming enthusiasts, comic fans, and pop culture enthusiasts. The strategy involves increasing the number of festivals and expanding their reach to more cities in India and other countries, exploring new markets and audiences. This strategic move by NODWIN Gaming is poised to revolutionize the entertainment industry, turning it into a global phenomenon that transcends geographical and cultural boundaries. Fans can look forward to an enriched experience with a broader array of events celebrating the convergence of gaming, esports, comics, and popular culture.
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