Nazara Technologies' Nodwin Gaming acquires OML Entertainment's IP and gaming business

#Companies, #trends, Nazara Technologies Limited

NODWIN Gaming, an esports company and an independent subsidiary of Nazara Technologies Limited has acquired the gaming and adjacent IP (intellectual property) business of OML Entertainment, a media and entertainment company.

Nazara Technologies owns IPs including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and Esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games.

NODWIN Gaming has signed this deal for Rs 73 crore and the transaction will provide partial liquidity to OML Entertainment shareholders, including investment firm CA Media.

“NODWIN Gaming believes that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters and brands. The addition of some of the largest IPs in India like NH7 weekender is going to accelerate the massification of esports and gaming entertainment across the spectrum of fans and brands,” said Rathee. 

He added, “The proven capability of the team that joins us from OML Entertainment will further ensure that we can execute and monetise our IPs.”

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 Gaming management team.

OML Entertainment is known for managing gaming and entertainment creators such as Tanmay Bhat, Samay Raina, Suhani Shah, among others. And also for owning and executing IPs such as the BACARDÍ NH7 Weekender, LOLstars, Headliners, hip-hop league – Breezer Vivid Shuffle, among others.

In FY20, the total revenue of the acquired business of OML Entertainment was Rs 91 crore with EBITDA of 10 percent, the company said.

OML Entertainment will continue its focus on non-gaming creator-driven content and talent management businesses as it scales its OTT (over the top) platform offerings and branded content marketing suite of services that currently works with over 700 creators across the world. For the company, the non-gaming segment had clocked Rs 170 crore in FY20.

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