New Delhi: South Asia-based esports company Nodwin Gaming which is also an independent subsidiary of Nazara Technologies Ltd has acquired the gaming and adjacent IP business of OML Entertainment for Rs 73 crores. The mega-deal will provide partial liquidity to OML Entertainment shareholders, including CA Media.

OML Entertainment MD Ajay Nair will join the Nodwin Gaming board as part of this transaction and will work with Nodwin Gaming MD Akshat Rathee and its management team to ensure smooth integration of the OML IPs with Nodwin Gaming and help with growing Nodwin Gaming’s business, the company announced on Friday. 

The acquisition taps into a growing synergy between the two companies. While Nodwin Gaming is known for its esports and gaming expertise, OML Entertainment is known for managing some of India’s biggest gaming and entertainment creators such as Tanmay Bhat, Samay Raina and for owning and executing storied IPs such as the 'Bacardi NH7 Weekender' well-attended comedy touring properties such as 'LOLstars' and 'Headliners' and India's biggest hip-hop league – 'Breezer Vivid Shuffle'. OML Entertainment also works with some big brands in India to produce well-known properties such as the ‘Levi's Music Week’ and ‘YouTube FanFest’. 

The deal also allows Nodwin Gaming to massify gaming and esports by tapping into emerging synergies in gaming entertainment that a 14-30-year-old is looking for. 

“Nodwin Gaming strongly believes that continuous growth in the IP portfolio is central to building a vibrant ecosystem of fans, talent, broadcasters and brands," said Akshat Rathee. "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 proven capability of the brilliant team that joins us from OML Entertainment will further ensure that we can execute and monetise our IPs.” 

OML's Ajay Nair said the company believes in the convergence of different pop culture genres and has seen that this has already happened across several platforms and IPs. “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," he said.