NODWIN Gaming Buys StarLadder To Expand Portfolio

NODWIN Gaming Buys StarLadder To Expand Portfolio

SUMMARY

Nazara Technologies-owned NODWIN Gaming has acquired esports broadcasting platform StarLadder for an initial consideration of $5.5 Mn

The acquisition of 100% of the share capital of StarLadder will be a combination of secondary sale and stock swap, as per the filing

Post the acquisition, StarLadder will become a fully-owned subsidiary of NODWIN Gaming Pte

Listed gaming major Nazara Technologies-owned NODWIN Gaming has acquired esports broadcasting platform StarLadder for an initial consideration of $5.5 Mn (INR 47.65 Cr).

In a regulatory filing, the company said, “The acquisition of 100% of the share capital of StarLadder will be a combination of secondary sale and stock swap of NODWIN Gaming Pte shares for an initial consideration of up to $5.5 Mn.”

Furthermore, the additional consideration will be payable on meeting the earn-out targets, the filing added.

Post the acquisition, StarLadder will become a fully-owned subsidiary of NODWIN Gaming Pte.

Shares of its parent Nazara Technologies were up almost 2% at INR 958.60 apiece, compared to its previous close of INR 940.00 per share, on the BSE intraday morning trade today (January 31).

The initial consideration of $2 Mn would be paid in cash, while the balance $3.5 Mn will be via equity shares swap with NODWIN Gaming Pte.

Founded in 2018 by Roman Romantsov, StarLadder is an Ukrainian tournament operator that hosts international tournaments of games such as Dota 2, PUBG and HearthStone. Its web platform claims to organise online tournaments among professional and amateur teams.

Following the deal, Romanstov would become a shareholder of NODWIN Gaming Pte and continue to lead the business ahead.

“I have been a fan of his (Romanstov) work for the longest time and cherish the opportunity to work and build NODWIN with one of my heroes. With this NODWIN will level up our capability invision bigger and better IPs and events for our fans and partners to love,” Akshat Rathee, cofounder of NODWIN Gaming said.

StarLadder’s merger would enable NODWIN Gaming to add the X factor in esports event and intellectual properties (IP) production, the company said in a statement.

This deal comes over a month after Nazara Technologies was set to inject INR 64 Cr into the company to boost its capabilities, expand portfolio of IPs and bolster its presence in emerging markets.

NODWIN Gaming then claimed a 91% increase in revenue quarter-on-quarter (QoQ) and a 111% increase year-on-year (YoY) for Q2 FY24.  The company also informed that as of Nov 2024, Nodwin Gaming was valued at $410 Mn or INR 3,441 Cr.

Updated at 10:52 AM