 "Nodwin Gaming acquires Sony's stake in e-sports event Championship Evo")
Nodwin Gaming acquired a majority stake in the Evolution Championship Series (Evo), expanding its presence in the global fighting games e-sports market.
Sony Interactive Entertainment (SIE) sold its stake in Evo to Nodwin Gaming for an undisclosed amount.
Nodwin is backed by SIE’s parent, Sony Group Corporation, and is set to be an associate company of India’s only listed gaming firm, Nazara Technologies.
“SIE will become a new global sponsor of Evo through 2028 and will continue its commitment to the fighting game community through the PlayStation Tournaments platform and key products currently in development that appeal to fighting game players,” it said in a statement.
Evo has strategic agreements in place with Saudi Arabia-based Qiddiya, SIE, and existing shareholder RTS, which are expected to drive its international expansion, content, and immersive experiences through 2028 and beyond.
Qiddiya became a global partner of Evo in 2024 and added that the company is investing in RTS, co-owner and operator of Evo, and will extend its global partnership with Evo through 2027.
“Nodwin Gaming, where Nazara remains the largest shareholder, has acquired Evo, one of the world’s most iconic esports tournaments… It also comes at a pivotal time as India’s new Online Gaming Bill provides a strong policy push for esports as part of the country’s innovation and growth agenda,” said Nitish Mittersain, Chief Executive Officer (CEO) of Nazara, in a post on the social media platform LinkedIn.
Last month, Nazara said Nodwin was raising fresh capital from certain existing shareholders. Nazara’s stake in Nodwin is expected to fall below 50 per cent. The company is not participating in the fundraising round as it continues to focus on core gaming intellectual properties (IPs).