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The Nazara Technologies-owned gaming company, NODWIN Gaming, has officially acquired Comic Con India at a valuation of Rs 55 crore.
NODWIN Gaming has reportedly acquired 100 per cent of the shares of Comic Con India through a “combination of cash and a share swap” from CCI founders Jatin Varma and Karan Kalra.
According to the press release, this “acquisition is particularly noteworthy as the managing team at Comic Con India will also become shareholders in NODWIN Gaming by swapping Rs. 27.5 crore of their Comicon India shares with NODWIN shares.”
In a statement, Varma said, “For more than a decade, we have worked tirelessly to build a unique space in India for promoting and celebrating popular culture. And with that goal in mind, I am very excited to join hands with NODWIN Gaming in taking the next step and building upon this goal together.
Kalra added, “Our aim at Comic Con India has always been to put the fans first! And I am absolutely thrilled that this strategic partnership will enable us to deliver amazing events and experiences to pop culture fans across India.”
Comic Con India was founded in 2011. Ever since then, the company has orchestrated various festivals across India, celebrating a wide range of popular culture elements including comics, cosplay movies, TV shows, merch, gaming and much more.
The festivals, held in cities like New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai, have become cornerstones of India’s cultural calendar.
Speaking of this deal, Akshat Rathee, co-founder and managing director of NODWIN Gaming, said, “We are thrilled to welcome the managing team of Comic Con India as partners and shareholders in NODWIN Gaming.”
He added, “Their trust in our vision reinforces our commitment to expanding our entertainment offerings. Integration of Comic Con India will amplify and diversify the offering of NODWIN to all opportunities that target the youth in India. With the continued intersection of Gaming/ Pop Culture/ esports into one interactive entertainment sector, Nodwin will add a strong and robust IP that is scalable both in India and Internationally. Our quest for drawing millions of fans across the world will get another level up with Comi Con.”
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