NODWIN Gaming acquires 100 pc stake in Starladder for Rs 46.75 cr

New Delhi, Jan 31 (PTI) NODWIN Gaming on Friday announced the acquisition of a 100 per cent stake in esports IP and services firm Starladder in a deal valued at an initial consideration of USD 5.5 million (Rs 46.75 crore).
     The acquisition, which makes StarLadder a fully owned subsidiary of NODWIN Gaming Pte (Singapore), will combine secondary sales and stock swap of NODWIN Gaming Pte shares, according to a company statement.
     StarLadder will maintain its identity, with its founder Roman Romanstov continuing to manage the operations while also becoming a shareholder in NODWIN Gaming.
     "The initial consideration would be payable partly by way of cash consideration up to USD 2 million (Rs 17 crore) and balance USD 3.5 million (Rs 29.75 crore) by way of swap of equity shares of NODWIN Gaming Pte. As part of this transaction, the founder Roman Romanstov would become a shareholder of NODWIN Gaming Pte and continue to lead the business going forward," the statement said.
     Founded in 2014, NODWIN Gaming is a subsidiary of Nazara Technologies.

(This story has not been edited by THE WEEK and is auto-generated from PTI)