Gaming and esports media firm Nodwin Gaming's Singapore unit has acquired a 100 percent stake in game marketing agency Publishme for $2 million from parent firm Nazara Technologies and Publishme co-founder Ozgur Ozalp, as the company looks to boost its international presence.
As per a stock market filing, Nodwin Gaming's Singapore subsidiary Nodwin Gaming International Pte Ltd is purchasing an 82.81 percent stake from Nazara's Dubai unit for $2 million in cash and the remaining 17.19 percent stake from Ozgur Ozalp for $1.
Following this transaction, Publishme will rename itself as Nodwin Gaming in the Middle East but retain the Publishme name in Turkey, its original market. Ozgur Ozalp will take over as the CEO of Nodwin Gaming Dubai.
The deal is expected to enhance Nodwin Gaming's existing solutions capabilities for brands and publishers as the company continues its global expansion, particularly in the BRICS global network whose members include Brazil, Russia, India, China, South Africa, The United Arab Emirates, Saudi Arabia, Iran, Ethiopia, Egypt and Argentina.
"This strategic acquisition not only brings in a host of new opportunities but also paves the way for a multitude of fresh possibilities for us as a leading gaming and esports media company," said Nodwin Gaming co-founder Akshat Rathee.
Nazara chief executive Nitish Mittersain also said that they see significant synergies between Nodwin Gaming and Publishme and this transaction will enable Nodwin to get a stronger foothold into the Middle East esports market.
Publishme is a gaming marketing agency that works with game publishers in Turkey and the United Arab Emirates. It helps companies with game launch plans, social media management, sponsorship and activations. Nazara Technologies had acquired a majority stake in Publishme for Rs 20 crore in June 2021.
Over the past year or so, Nodwin Gaming has made a series of acquisitions and investments to expand its offerings in India and international markets.
This includes a 51 percent stake purchase in Singapore-based live events firm Branded in an all-cash deal of up to $1.3 million last month; buying the gaming and adjacent IP businesses of OML Entertainment for Rs 73 crore in September 2021, including the popular NH7 Weekender music festival; and picking up a 10.26 percent stake in digital media firm Rusk Media for Rs 10 crore in December 2021.
Nodwin Gaming also bought a 35 percent stake in gaming accessories maker Brandscale Innovations, which makes high-quality and affordable gaming audio gear under the brand name Wings in April 2022 and purchased comics, pop culture and superheroes merchandising retailer Planet Superheroes for Rs 4.9 crore in January 2022.
It owns various IPs including prominent tournaments, festivals, and conferences in esports, gaming, music, comedy and live experiences that could appeal to gaming enthusiasts. It operates across multiple offices in South Asia, Singapore, Middle East and Turkey.
In May 2023, Nodwin Gaming raised $28 million from new investors Sony Group Corporation and Innopark and existing investors such as Nazara, Krafton and JetSynthesys. The round valued the firm at $349 million, a significant jump from its earlier valuation of $135 million when it last raised funds in March 2021.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
