While Nodwin Gaming didn’t disclose the financial details of the deal, Nazara Technologies in a regulatory filing stated that the transaction amounted to Rs 4.9 crore.
“The board of directors of Nodwin Gaming 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% equity stake for a consideration of Rs 4.90 crore,” the regulatory filing stated. “With this, Superhero Brand shall become the wholly owned subsidiary of Nodwin and subsidiary of Nazara.”
The deal will allow Nodwin Gaming to offer its users global merchandise from the likes of Marvel and Disney to Hamleys and Toys R Us, according to a statement. The partnership will also expand Planet Superheroes’ current offerings to include gaming merchandise from Krafton, Gameloft, Riot Games, etc.
Planet Superheroes has also built a proprietary social commerce engine that it will integrate with Nodwin’s in-house assets to create a first-of-its-kind “influencer-first” merchandising engine, the statement read.
“The acquisition of Planet Superheroes will allow Nodwin Gaming to have another strategic touch point with fans that celebrates a common love for all things gaming, pop culture and esports,” said Akshat Rathee, founder and managing director at Nodwin Gaming.
Discover the stories of your interest
Founded in 2014, Mumbai-based Planet Superheroes is an omnichannel brand that retails licensed character merchandise. The variety ranges from action figures, collectibles, toys for kids, fashion and home accessories, stationery and apparel. The company claims to have serviced more than 2 lakh consumers and shipped over 5 lakh orders since incorporation.
The company had a revenue of Rs 4.99 crore in the fiscal ended March 31, 2021, down from Rs 8.17 crore in FY20 and Rs 7.43 crore in FY19.
“There is huge untapped monetisation potential for gaming companies via merchandising and we (Planet Superheroes and Nodwin Gaming) share a common vision in realising this potential,” Jaineel Aga, founder and chief executive at Planet Superheroes, said. “I believe we will get two immediate wins—a larger consumer base for our existing IPs and a new supply of licences and partnerships in the gaming industry.”
For all the latest Technology News Click Here
