NODWIN Gaming Acquires OMLs’ Gaming IPs Business for Rs. 73 Crore
by EVENTFAQS Bureau Industry Watch | September 21, 2021 | News
NODWIN Gaming OML Entertainment
South Asian esports company and an independent subsidiary of Nazara Technologies, NODWIN Gaming, has acquired the gaming and adjacent IP business of OML Entertainment.
A consideration of Rs.73 crores has been agreed upon for the acquisition, according to the companies. The transaction will provide partial liquidity to OML Entertainment shareholders, including CA Media.
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 management team to ensure integration of the OML IPs with NODWIN Gaming and help with growing NODWIN Gaming’s business, informed an official statement.
Nair said, “We believe in the convergence of different pop culture genres and have seen that this has already happened across several platforms and IPs. It makes a lot of sense to consolidate the strengths that OML Entertainment and NODWIN Gaming have in the live IPs and gaming spaces. Over the past years, our experience working with NODWIN Gaming has been very fruitful and we are confident that our live IPs and the teams that execute them have found a good home at NODWIN Gaming. OML Entertainment will continue to focus on building its OTT content production, talent management and branded content businesses. I look forward to working with Akshat and the NODWIN Gaming team to deliver on the true potential of this partnership.”
Rathee said, “NODWIN Gaming strongly believes that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters and brands. This has been the essence of NODWIN Gaming since the early days of creating the ‘India Premiership’ or ‘Dew Arena’. 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. The multi-faceted talent that joins us cuts across gaming and pop culture and lays the perfect foundation for NODWIN Gaming to create more IPs. The proven capability of the brilliant team that joins us from OML Entertainment will further ensure that we can execute and monetise our IPs.”
According to the companies, the total revenue of the acquired business of OML Entertainment during FY’20 (pre-Covid) was Rs.91 crore with pre-tax earnings of around 10 percent.
OML Entertainment said it will continue to consolidate its non-gaming creator-driven content and talent management businesses as it scales its OTT offerings and branded content services. This business had clocked revenues of Rs. 170 crore in FY 2020 and risen further since then, according to the company.
Also read:
OML’s Global Creator Network More Than Doubles Turnover in 2 Years, Clocks Rs.105 cr in FY’21
https://www.eventfaqs.com/news/ef-17723/omls-global-creator-network-more-than-doubles-turnover-in-2-years-clocks-rs105-cr-in-fy21
Revenue of the acquired business in FY’20 was Rs.91 crore; Ajay Nair, MD of OML Entertainment, will join the NODWIN Gaming board with the development.