JetSynthesys acquires Skyesports to form Jet Skyesports Gaming Pvt Ltd
The new entity, created with a vision to build esports at the grassroot level ahead of the Asian Games 2022, will see JetSynthesys own 65 percent stake and the founders holding 35 percent.
Digital entertainment technology company has acquired Chennai-based esports company Skyesports for an undisclosed amount of deal.
With the acquisition, JetSynthesys will form a new entity titled Jet Skyesports Gaming Pvt. Ltd., with a vision to build esports at the grassroot level in India ahead of the Asian Games 2022, which will include esports as a medal event for the first time in the history of all such tournaments, it said in a statement.
This acquisition further strengthens Skyesports’ pan-India proliferation and also sets the stage for its expansion from India to South Asia, helping the brand create more IPs and strengthen its team.
Rajan Navani, Vice Chairman and Managing Director, JetSynthesys said,:
“Next year is a year of reckoning for esports globally as it becomes a medal event at the Asian Games, the first in the history of any such prestigious global tournament. Indian gaming has immense potential, and the talent which resides in the non-metros often goes unnoticed. Our vision, therefore, is to build esports at the grassroot level and empower individuals who have a passion for gaming make a career of it. Through Jet Skyesports, we will grow the esports ecosystem to cover the deepest parts of India, to make it more mainstream, and to also mould international-level talent from here to represent the country at global events as powerful contenders.”
Rajan Navani along with Sachin Tendulkar
The company said that Skyesports has expanded significantly from its core in South India to expand its base within the country, and that it has the most number of tournament IPs in India with a combined total viewership of over 100 million across all platforms (Facebook, YouTube, and Loco). The company introduced the Skyesports League this year, which featured the first league format in Indian esports history and also became the most-watched VALORANT tournament in the country to date. It amassed a total viewership of over 10 million, becoming the first esports event in India for a PC game to achieve such a feat.
JetSynthesys is one of the leading names in the gaming industry and is known for developing mobile games with high fidelity and network play. It has global publishing partnerships such as WWE, Square Enix, and Hollywood films Passengers and Floyd Mayweather.
In July, JetSynthesys raised $2 million equity investment from cricketing legend and 'Master Blaster', Sachin Tendulkar, who joined existing shareholders of JetSynthesys — Adar Poonawalla, Kris Gopalakrishnan, and the multi-billion-dollar family offices of the promoters of Thermax, Triveni Group, Yohan Poonawalla Group, and DSP Group. JetSynthesys also has 50 percent founding stake in Nodwin Gaming.
Edited by Anju Narayanan