India-based gaming and esports company NODWIN Gaming has announced the acquisition of AFK Gaming, a prominent Indian esports-focused media platform.
Under the terms of the agreement, NODWiN will acquire a 93% stake in AFK Gaming through a mix of cash and stock for a total consideration of INR ₹76M INR (roughly $893K USD). Pending regulatory approval, the transaction will make AFK Gaming a wholly owned subsidiary of NODWIN, as the company already held a 7% stake previously. AFK’s founders—Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar—will become shareholders of NODWIN Gaming and will take on new roles within the company.
In 2017, NODWIN Gaming led AFK Gaming’s first round of investment as a strategic investor, helping the founders turn their hobby into a business. This acquisition completes the lifecycle of NODWIN’s strategic investment into the company.
“I have known Nishant, Sid, and Rakesh since the inception of AFK Gaming,” said Akshat Rathee, co-founder of NODWIN Gaming. “We all started out at the same time, while the esports industry in India was just beginning to pick up. We have built respect for each other over time by butting heads, competing, collaborating and supporting each other when there was little hope. I have learnt to admire their ability to persevere, pivot and be true to the fan. This focus is to be treasured. Once you have that respect and understanding of our strengths and weaknesses, working together is a natural causality. As we come together as one group, I welcome them as shareholders of NODWIN Gaming and as leaders in our group. I look forward to the many missions we will pick up and go on together.”
Patel will join the founders’ office to work on strategic initiatives across the NODWIN group, and continue to help build and grow Pixel P&L as a media product. Ramchandran will focus on “building tech led products,” while Nayyar will continue to head the media agency Max Level.
Founded in 2012 by Nishant Patel, Rakesh Ramchandran, and Siddharth Nayyar, AFK Gaming has served as one of the top destinations for Indian gaming and esports news for over a decade. Most recently, AFK launched a paid curated gaming business newsletter called Pixel P&L. The company also operates an agency called Max Level, which offers “bespoke marketing services to teams, tournament organizers, game publishers and brands.”
With this acquisition, AFK Gaming’s website will now serve as a landing page for its various products and services.