Nazara Tech's Nodwin Gaming buys IP business of OML for Rs 73 Cr; will now own NH7 Weekender, YouTube Fan Fest
' independent unit Nodwin Gaming has bought media and entertainment company OML's gaming and adjacent intellectual property business for Rs 73 crore, the e-sports venture said.
The transaction will add to Nodwin's portfolio OML's IPs such as Bacardi NH7 Weekender, YouTube Fan Fest and hip-hop league, Breezer Vivid Shuffle, among others, the company added.
The deal will provide partial liquidity to OML Entertainment's shareholders, including investment company CA Media, a press release announcing the strategic move stated. OML's managing director, Ajay Nair, will join Nodwin's board, following the closure of the transaction.
"We strongly believe that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters, and brands," Akshat Rathee, Managing Director at Nodwin, said.
"The proven capability of the brilliant team that joins us from OML Entertainment will further ensure that we can execute and monetise our IPs," he added.
The deal is expected to benefit both companies since the sectors they operate in have several overlaps and opportunities to collaborate. OML Entertainment manages gaming and content creators such as Tanmay Bhat and Samay Raina, who host gaming content on their channels.
"It makes a lot of sense to consolidate the strengths that OML Entertainment and Nodwin have in the live IPs and gaming spaces," OML's Ajay said in the press release.
OML will continue to focus on its non-gaming, creator-driven content creation business, explore creating content for OTT platforms, build branded content marketing services, and push deeper into talent management, he added.
Nodwin Gaming, in March this year, raised Rs 164 crore from South Korea-based gaming major Krafton, the powerhouse behind popular games such as PUBG Mobile, Golf King, Castle Burn, and Battleground Mobile India. Nazara Technologies and Infosys Co-founder Kris Gopalakrishnan-backed are also investors in the e-sports company.
Nazara joined Nodwin's cap-table in 2018, and has seen its investment grow 6.44X in three years.
Edited by Megha Reddy