Nodwin Gaming Pvt. Ltd., a subsidiary of Nazara Technologies Ltd., India’s first publicly traded gaming company, has acquired direct-to-consumer retailer Planet Superheroes to expand its merchandise offering.
While Nodwin Gaming did not disclose the financial terms of the transaction, Nazara Technologies stated in a regulatory filing that it was worth 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.”
According to a statement, the agreement will allow Nodwin Gaming to offer its users global merchandise from Marvel and Disney to Hamleys and Toys R Us. The collaboration will also broaden Planet Superheroes’ current product offerings to include gaming merchandise from Krafton, Gameloft, Riot Games, and others.
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.
Planet Superheroes, based in Mumbai, was founded in 2014 as an omnichannel retailer of licenced character merchandise. The selection includes action figures, collectibles, children’s toys, fashion and home accessories, stationery, and apparel. Since its inception, the company claims to have served over 2 lakh customers and shipped over 5 lakh orders.
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