After its affiliate NODWIN Gaming purchased OML Entertainment’s gaming and adjacent IP business, Nazara Technologies’ stock soared as high as 4.35 percent.
The gaming and related IP (intellectual property) business of OML Entertainment, a media and entertainment firm, has been acquired by NODWIN Gaming, an esports company and an independent subsidiary of Nazara Technologies Limited.
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 are among Nazara Technologies’ IPs.
The transaction would give partial liquidity to OML Entertainment stockholders, including investment firm CA Media, and was signed by NODWIN Gaming for Rs 73 crore.
“Continuous expansion in the IP portfolio is critical to developing a healthy ecosystem of fans, talent, broadcasters, and marketers, according to NODWIN Gaming. “The addition of some of India’s most well-known IPs, such as NH7 Weekender, will hasten the massification of esports and gaming entertainment across a broad range of fans and businesses,” said Rathee.
“The proven capability of the team that joins us from OML Entertainment will ensure that we can execute and monetise our IPs even more,” he added.
As part of the agreement, Ajay Nair, the CEO of OML Entertainment, will join the NODWIN Gaming board of directors and will collaborate with Akshat Rathee, the CEO of NODWIN Gaming, and the NODWIN Gaming management team.
Tanmay Bhat, Samay Raina, and Suhani Shah are among the game and entertainment creators managed by OML Entertainment. Also for owning and executing IPs like the BACARD NH7 Weekender, LOLstars, Headliners, and the Breezer Vivid Shuffle hip-hop league, to name a few.
According to the corporation, the overall sales of OML Entertainment’s acquired business was Rs 91 crore in FY20, with an EBITDA of 10%.
As it scales its OTT (over the top) platform offerings and branded content marketing suite of services, OML Entertainment will continue to focus on non-gaming creator-driven content and talent management businesses. The company currently works with over 700 creators around the world. In FY20, the company’s non-gaming business brought in Rs 170 crore.