Nazara Technologies-owned Nodwin Gaming has agreed to acquire 100% stake in Comic Con India, which hosts pop cultural festivals in India, for Rs 55 crore, the company said on Wednesday.
The acquisition will be made through a combination of cash and share swap with the founders of Comic Con India – Jatin Varma and Karan Kalra. Nodwin Gaming will pay Rs 27.45 crore in cash and the balance Rs 27.55 crore through a share swap for the acquisition.
The founders will continue to operate the business under Nodwin Gaming.
Founded in 2011, Comic Con India organises various festivals across India, in segments like comics, cosplay movies, TV shows, merch, gaming and others.
“Integration of Comic Con India will amplify and diversify the offering of Nodin 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 robust IP that is scalable both in India and Internationally.”
Nazara had acquired Nodwin Gaming through a cash-and-stock deal in January 2018. Besides Nazara, gaming and entertainment company JetSynthesys owns a stake in Nodwin.