Nodwin Gaming has announced the acquisition of Comic Con India, the company famous for hosting an array of pop cultural festivals in the country. This acquisition is a huge step towards entering the global entertainment stage and will also add to Nodwin's portfolio. This deal was successful and Nodwin now has a 100% stake in Comic Con India, valued at Rs 55 crore.
Also Read: The Arena Championship By Comic Con India And The Esports Club: Quarterfinals 3 Result
Nodwin Gaming Acquires 100% Stake In Comic Con India
The transfer of power will take within the next 90 days as the amount was transferred as cash and share swap. Both the founders, Jatin Varma and Karan Kalra will continue to lead Comic Con India but will be operating under Nodwin Gaming's banner.
Talking about the deal and the share swap, which means that Comic Con India will also be holding shares in Nodwin India, Jatin Varma, Founder, Comic Con India stated:
For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in our mind, I am very excited to join hands with NODWIN Gaming in taking the next step and building upon this goal together.
With this strategic partnership, Comic Con India and Nodwin Gamng plan to take the festival to more cities, expand their audience and reach the hearts of many more gamers, comic lovers and pop culture enthusiasts. Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, commented on this development, stating:
We are thrilled to welcome the managing team of Comic Con India as partners and shareholders in NODWIN Gaming. Their trust in our vision reinforces our commitment to expanding our entertainment offerings. Integration of Comic Con India will amplify and diversify the offering of NODWIN to all opportunities that target the youth in India. With the continued intersection of Gaming/ Pop Culture/ esports into one interactive entertainment sector, Nodwin will add a strong and robust IP that is scalable both in India and Internationally. Our quest for drawing millions of fans across the world will get another level up with Comic Con.
The deal also looks to make the upcoming year more inclusive and exciting for people who would experience Comic Con India for the first time in their cities.