On Tuesday, Nodwin Gaming, a subsidiary of Nazara Technologies raised Rs 164 crore from Krafton, PUBG’s South Korean developer.
Moreover, it plans to utilize these funds to enhance the development of esports in South Asia, Middle East, and Africa.
Further, it aims to invest in talent, better gaming infrastructure, and new tournament IPs at the national and international level.
It will also use the proceeds to facilitate better gaming infrastructure and technology.
The goal is to conceptualise, organise and execute a multitude of tournament intellectual properties at the national and international level.
However, Nodwin gaming collaborates with global publishers and partners such as ESL, Valve, Krafton, Tencent, Riot and Blizzard.
This also includes content partnerships with broadcasters like MTV on linear TV, Disney+ Hotstar, Youtube and Airtel.
Nodwin’s investors compromise of Nazara Technologies, JetSynthesys and others.
Post the transaction, Nazara will continue to own a stake in excess of 50 percent in Nodwin.
In fact, Nazara claimed that its 2018 investment in Nodwin created a value in excess of 6.44X in three years.
Krafton is one of the top gaming companies in South Korea.
Also, it is the creator of intellectual properties and games like PLAYERUNKNOWN’S BATTLEGROUNDS, TERA, Golf King, Castle Burn among others.
Moving forward, E-sports is the foundation to boost the growth of sports entertainment in the future
Accordingly, it lies at the intersection of sports, entertainment and technology respectively.
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