NODWIN Gaming, a subsidiary of BSE-listed Nazara Technologies, on Thursday said it has acquired comic, pop culture and superheroes merchandising retailer - Planet Superheroes.
While NODWIN did not disclose the financial details, Nazara Technologies said the transaction value is Rs 4.9 crore.
"...Board of Directors of NODWIN Gaming Pvt Ltd, a material subsidiary of Nazara Technologies Ltd, at their meeting held on January 12, 2022, has approved the acquisition of 27,987 equity shares of Rs 10 each of Superhero Brands Pvt Ltd from existing shareholders, in one or more tranches, aggregating to 100 per cent equity stake...for a consideration of Rs 4.90 crore," Nazara said in a regulatory filing.
With this, Superhero Brand Pvt Ltd will become the wholly-owned subsidiary of NODWIN and Nazara, the filing added.
"On acquisition, Superhero will the become wholly-owned subsidiary of NODWIN and this will give NODWIN an entry in D2C business catering to gaming fans across the country by increasing its offerings with licensed merchandise," the filing said.
Superhero Brands - which operates Planet Superheroes (PSH) - is engaged in the business of manufacturing and selling licensed character merchandise, apparels, collectables, accessories and other merchandise services in India. It was incorporated in June 2015 and its turnover stood at about Rs 2.79 crore as on October 31, 2021.
In a separate statement, NODWIN said this new addition will enable the company to offer iconic global merchandise to the millions of youth who engage with NODWIN Gaming via its popular IPs (Intellectual Property) such as India Premiership, VCC, NH7 and DreamHack. NODWIN will also expand on the current offerings of Planet Superheroes by exploring partnerships with global publishers like KRAFTON, Gameloft, Riot Games etc, to create innovative and locally relevant merchandise and licensing offerings on games like BGMI, Valorant, PUBG PC, Asphalt, CSGO etc, that have become household names, it added.
Planet Superheroes offers officially licensed merchandise from Marvel, Warner Bros, Disney, Viacom Networks, Cartoon Network, Fox Studios, Hamleys and Toys R Us among others. The variety ranges from action figures, collectables, toys for kids, fashion and home accessories, stationery and apparel.
PSH has catered to over two lakh consumers and has shipped over five lakh orders since its incorporation. It has partnered with over 10 marquee licensed global and domestic IP partners and has created a strong global supply chain with omnichannel operations.
“The Indian gaming and e-sports industry has witnessed a metamorphic rise in its fan base in recent years. The acquisition of Planet Superheroes will enable NODWIN Gaming to have another strategic touchpoint with fans that celebrate a common love for all things gaming, pop culture and esports," NODWIN Gaming founder and MD Akshat Rathee said.
He further said the company believes in increasing the existing offering of global brands to include mega tournaments, Games and even the popular talent and players like Mortal, Samay Raina, Tanmay, Ankit Panth and others.
"There is huge untapped monetisation potential for gaming companies via merchandising and we share a common vision in realising this potential with PSH joining NODWIN. I believe we will get two immediate wins, a larger consumer base for our existing IPs and a new supply of licenses and partnerships in the gaming industry," Jaineel Aga, founder and CEO of PSH, said.