Home grown electronic sports (e-sports) firm Nodwin Gaming said on Friday it has acquired the Gaming and adjacent IP (Intellectual Property) business from media and entertainment firm OML Entertainment for Rs 73 crore.
As part of the deal, Nodwin will pay Rs. 73 crore for the acquisition and Ajay Nair, Managing Director of OML Entertainment will join the gaming company’s board. Going forward, Nodwin Gaming will be handling all gaming-related events and IPs that come from OML’s stables.
The IPs from OML Entertainment include Bacardi NH7 Weekender, YouTube Fan Fest, and India’s biggest hip-hop league — Breezer Vivid Shuffle.
Nodwin Gaming recently raised Rs. 164 crore in equity investment from South Korean gaming firm Krafton, which is the company behind games like PUBG Mobile and Battleground Mobile India, earlier this year. It also has investments from gaming and sports media company, Nazara Technologies, which owns a majority stake in Nodwin Gaming, and Kris Gopalakrishnan backed gaming firm JetSynthesys Private Limited.
“What we have been seeing over the past few years is that there’s a big convergence happening between comedy, music and gaming,” said Sidharth Kedia, Chief Executive Officer (CEO) of Nodwin Gaming.
“We’re getting access to some of the IPs that OML has created specifically for the youth, where there is a big crossover of gaming, music and comedy. We’re also getting access to all the talent which is now increasingly focusing on gaming. Those are the businesses that we’re acquiring from OML,” he added.
Akshat Rathee, co-founder and managing director of Nodwin Gaming, said the company is interested in accessing IPs from OML where it can create “multi-stage” experiences between music, comedy and gaming. He added that the acquisition will help the “massification” of esports and gaming in India.
OML Entertainment also works with comedians like Tanmay Bhat and Smay Raina, who have both been noted for hosting gaming content on their specific YouTube channels. “It makes a lot of sense to consolidate the strengths that OML Entertainment and NODWIN Gaming have in the live IPs and gaming spaces,” said OML’s Nair. He added that the company will focus on building content for OTT platforms, talent management and branded content businesses.