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Nodwin Gaming To Acquire Comic Con India In A ₹55 Crore Deal

Nazara Technologies’ esports subsidiary, Nodwin Gaming has announced its plans of acquiring Comic Con India in a deal worth ₹55 Crore. Announced on 24th January, this deal can be seen as Nodwin Gaming’s strategic move, with the brand looking to fortify its events portfolio in the entertainment and gaming industry.

According to Money Control, the upcoming deal is expected to be a cash and stock transaction, with Nodwin Gaming rumoured to contribute ₹27.4 Crore in cash and exchange ₹27.5 Crore in Comic Con India shares for its own. The report also states how Karan Kalra and Jatin Varma, the founders of Comic Con India, will continue to operate and lead the business while working under the umbrella of Nodwin Gaming.

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Established in 2011, Comic Con India is known to organise pop culture festivals across multiple cities. The main agenda of organised events in India is to celebrate various elements, which include movies, television shows, comics, cosplay, merchandise, and gaming. The acquisition of Comic Con India aligns with Nodwin Gaming’s vision to broaden its offerings while catering to the dynamic interests in the country.

Co-founder of Nodwin Gaming, Akshat Rathee, spoke on the strategic significance of the deal. He stated, “The addition of Comic Con India to Nodwin’s portfolio will amplify and diversify our offerings. The intersection of Gaming, Pop Culture, and esports will benefit from a strong and scalable intellectual property, both in India and internationally.”

Regarding financials, Comic Con India has displayed remarkable recovery by registering ₹16.26 Crore turnover in the fiscal year ending 31st March 2023, compared to ₹24 Lakh in FY22 and ₹89 Lakh in FY21. Such a positive trajectory goes on to show how the event industry made a rebound following the adverse impact of the COVID-19 pandemic.

Following the acquisition, Nodwin Gaming is rumoured to be looking at expanding its festivals to more cities across India, which could also go beyond the nation. The firm aims to enhance the fan experience by organising various events celebrating the intersection of esports, gaming, popular culture, and comics.

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