NODWIN Gaming acquires gaming adjacent IPs and gaming talent business from OML Entertainment for INR 73 Crores. NODWIN Gaming, South Asia’s leading esports company, and an independent subsidiary of Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA), has acquired the Gaming and adjacent IP business of OML Entertainment. NODWIN Gaming has agreed to a consideration of INR 73 crores as part of an agreement concluded between NODWIN and OML Entertainment. The transaction will provide partial liquidity to OML Entertainment shareholders, including CA Media. Ajay Nair, MD of OML Entertainment, will join the NODWIN Gaming board as part of this transaction and will work with Akshat Rathee, MD of NODWIN Gaming, and the NODWIN management team to ensure smooth integration of the OML IPs with and help with growing NODWIN Gaming’s business.
This acquisition taps into a growing synergy between the two companies. While NODWIN Gaming is known for its esports and gaming expertise. OML Entertainment is known for managing some of India’s biggest gaming & entertainment creators such as Tanmay Bhat, Samay Raina, Suhani Shah, etc. and for owning and executing storied IPs such as the
BACARDÍ NH7 Weekender (described by The Guardian as " India's answer to Glastonbury”), well-attended comedy touring properties such as LOLstars and Headliners and India's biggest hip-hop league – Breezer Vivid Shuffle. OML Ent. also works with some of the biggest brands in India to produce well-known properties such as the Levi's Music Week and the hugely successful YouTube FanFest.
The total revenue of the acquired business of OML Entertainment during FY20 (pre-COVID) was INR 91 crore with EBITDA of ~10%. OML will continue to consolidate its non-gaming creator-driven content and talent management businesses as it scales its OTT offerings and branded content marketing suite of services that currently works with over 700 creators across the world. This business had clocked revenues of INR 170 Cr in FY 2020 and has grown tremendously ever since.