Manish Agarwal, CEO of Nazara Technologies, on Tuesday, said the acquisition is a strategic bet to augment IP portfolios.

Nodwin Gaming, a subsidiary of Nazara Technologies, acquired the gaming and live Intellectual Property (IP) of OML Entertainment for Rs 73 crore.

OML Media owns IPs like Bacardi NH7 Weekender, Breezer Vivid Shuffle and IPs like YouTube Fan Fest and Hip-Hop League.

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"This is a strategic bet to augment IP portfolios, which have a strong affinity with 14-30 (age group) and now we can add eSports to the mix of music and comedy because the lines are blurring very fast, and the gaming is almost kind of recommend effective entertainment format,” Agarwal said.

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On business, he said, “The whole gaming plus eSports is going to be a big driver of sports entertainment in coming years. And to us, having access to 14-30 age group of audience and massifying eSports viewership gaming entertainment to them is our core objective as we build market as a market leader because if we are having a large market that will eventually result in more eyeballs and that will result into more media rights business, which is where our revenue contribution comes from.”

For the entire management interview, watch the video