Gaming firm Nazara Technologies announced the acquisition of Comic Con India via its Nodwin Gaming unit.
“As part of this transaction, Nodwin Gaming will acquire 100% of the shares of Comic Con India at a valuation of Rs 55 crore through a combination of cash and share swap from the founders of Comic Con India – Jatin Varma and Karan Kalra. They will continue and remain to operate the business as part of Nodwin Gaming,” Nazara said in a statement to bourses.
Jatin Varma, founder, Comic Con India, 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 our mind, I am very excited to join hands with Nodwin Gaming in taking the next step and building upon this goal together”
Founded in 2011, Comic Con India orchestrates various festivals across India, celebrating popular culture elements including comics, cosplay movies, TV shows, merch, gaming and more.
The festivals, held in cities like New Delhi, Mumbai, Bengaluru, Hyderabad and Chennai, have become widely popular in India.
Source: Economic Times