Indian Esports Giant NODWIN Acquires EVO From Sony

Indian gaming and esports giant NODWIN Gaming has acquired Sony Interactive Entertainment’s (SIE) stake in the Evolution Championship Series (EVO), becoming the majority shareholder of the world’s most prestigious fighting game tournament. The deal solidifies NODWIN’s position as a dominant force in the international esports market. 

The deal, completed this week, transfers Sony's shares in the joint venture it formed with RTS in 2021 to NODWIN Gaming, a subsidiary of publicly traded Nazara Technologies. RTS, an esports venture backed by Endeavor, will remain as a minority shareholder.

The acquisition represents a significant shift in the esports landscape, with an Indian company now controlling a tournament that began as a grassroots American fighting game competition and has grown into a global phenomenon.

NODWIN Gaming has been aggressively expanding its portfolio through acquisitions across the esports ecosystem, including stakes in AFK Gaming, Ninja Global FZCO, Freaks 4U Gaming and StarLadder, among others.

Expansion Into Global Markets

"This is a huge step in our ambition to take NODWIN Gaming from a leading emerging market player to a global leader in esports," said Akshat Rathee, co-founder and managing director of NODWIN Gaming. "Our investment in Evo is a testament to our commitment to the FGC. We are passionate about growing the community and look forward to working with the talented teams at Evo and RTS to elevate the experience for fans and players worldwide."

The change in ownership comes as Evo continues its global expansion. The tournament series has already returned to Japan at Tokyo Big Sight, becoming the largest in-person tournament in the country's history with approximately 30,000 attendees. Evo will make its European debut in Nice, France, on October 10-12, and is expanding to Singapore in 2027.

Rick Thiher, Evo's general manager, will remain in his role, along with the tournament's existing leadership structure. Co-founders Tom and Tony Cannon will continue as advisors.

"We are thrilled to welcome NODWIN Gaming to the Evo family," Thiher said. "Their deep experience in running world-class esports events will help us accelerate Evo's growth and continue to deliver the best possible experiences for our players and fans. With RTS and NODWIN's support, we are positioned to expand our global reach and celebrate the FGC like never before."

Sony's exit comes three years after it acquired Evo, a period that saw record-breaking attendance and viewership, particularly at Evo 2023. While Sony is stepping away from ownership, PlayStation is expected to remain a key partner and sponsor for future events.

For NODWIN, the acquisition provides access to North American markets and the influential Japanese fighting game community, while offering Evo greater financial resources and international reach as it seeks to expand while maintaining its grassroots appeal.