Nodwin Gaming, which is owned by Nazara Tech, has purchased the OML business for Rs 73 crore.

Nodwin Gaming, a subsidiary of Nazara Tech, is acquiring OML’s IP business for Rs. 73 crore; the NH7 Weekender and YouTube Fan Fest will now be owned.

Nodwin Gaming, an independent unit of Nazara Technologies, purchased gaming and related intellectual property media and entertainment company OML for Rs. 73 crore, according to the e-sports company

Nodwin’s portfolio will be expanded with IPs such as Bacardi NH7 Weekender, YouTube Fan Fest and the League Hip Hop, Breezer Vivid Shuffle, and others as a result of the transaction.

OML Entertainment’s shareholders, including investment firm CA Media, will be partially liquidated, according to a press release announcing the strategic move. After the transaction is completed, OML’s managing director, Ajay Nair, will join Nodwin’s board of directors.

“We strongly believe that continued growth in the IP portfolio is critical to building a vibrant ecosystem of fans, talents, broadcasters, and brands,” said Nodwin’s managing director, Akshat Rathee.

“The demonstrated ability of OML Entertainment’s brilliant team will ensure that we can continue to execute and monitor our IPs,” he added.

The transaction is expected to benefit both companies because their industries have several overlaps and collaboration opportunities. Tanmay Bhat and Samay Raina, for example, are managed by OML Entertainment and host gaming content on their channels.

“It makes a lot of sense to combine OML Entertainment and Nodwin’s strengths into live IPs and play areas,” said OML’s Ajay in a press release.

According to him, OML will continue to focus on its non-gambling content creation business while also looking at content creation for OTT platforms, the development of branded content marketing services, and the further development of talent management.

Nodwin Gaming raised Rs. 164 crore in March of this year from South Korean gaming major Krafton, the powerhouse behind popular games such as Mobile PUBG, King Golf, Burn Castle, and Battleground Mobile India. JetSynthesys, which is backed by Kris Gopalakrishnan, a co-founder of Nazara Technologies and Infosys, is also a shareholder in the e-sports company. Nazara joined Nodwin’s cap-table in 2018, and its investment increased to 6,44X in three years.

Jyoti Bansal’s Harness acquires Lightwing, a cloud technology start-up

Harness, the Jyoti Bansal-founded US tech unicorn, has acquired an undisclosed amount of Lightwing, a Bengali-based cloud startup. Lightwing has been named to YourStory’s Tech 30 list for 2020.

Lightwing, founded in 2019 by Ravi Yadalam and Navneeth K N, is a cloud optimization technology startup that enables businesses to reduce infrastructure costs. Jyoti Bansal and Ravi Yadalam announced the acquisition of LinkedIn.

“Welcome to the Harness Family, Ravitej Yadalam, Navneeth KN, and the Lightwing team. This is an exciting new technology that has been fully integrated into Harness Cloud Cost Management and is now available to our customers.”


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