NODWIN Gaming Expands Globally; Nazara's Stake Dilutes
NODWIN Gaming, one of South Asia's leading esports companies, has expanded internationally through strategic acquisitions in India, Germany, and Turkey. The company, founded in 2015, recently hosted the PUBG Mobile National Championship finals in Uzbekistan in October 2024. Nazara Technologies, a significant investor in NODWIN, has decided not to participate in the company's upcoming fundraise, leading to a change in their stake.
NODWIN previously raised $28 million in May 2023 at a post-money valuation of $349 million. Nazara's latest investment of Rs 64 crore ($7.5 million) in December 2024 has resulted in Nazara's holding diluting below 50%, reclassifying NODWIN from a subsidiary to an associate company. Nazara's board has approved relinquishing certain controlling and restrictive rights in NODWIN, aligning with their strategy to focus on core gaming intellectual properties rather than non-core segments like esports services. Despite this, Nazara will retain its position as NODWIN's largest shareholder.
NODWIN's international expansion and Nazara's strategic reclassification mark significant developments in the esports industry. While Nazara will no longer hold a majority stake, they remain committed to their position as NODWIN's largest shareholder, indicating continued support for the company's growth and success.
Read also:
- Trump and Xi speak over the phone, according to China's confirmation.
- Unlawful MMO gold peddler cultivates around half a million dollars in income, triggering a tax dispute, followed by developers unveiling strategies to clamp down on real-world transactions
- Prices of transit tickets in Berlin and Brandenburg are on the rise
- Linde Wins Major Engineering Design Contract for Equinor's Low Carbon Hydrogen Project at H2H Saltend, Progressing Towards a Greener Future
