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NODWIN Gaming Offloads Full Stake in EVO to RTS
Acquisition

NODWIN Gaming Offloads Full Stake in EVO to RTS

Entrackr
Entrackr
•February 20, 2026
Entrackr
Entrackr•Feb 20, 2026
0

Participants

RTS

RTS

acquirer

Evolution Championship Series (EVO)

Evolution Championship Series (EVO)

target

Why It Matters

The sale frees NODWIN to concentrate on emerging‑market gaming ecosystems while RTS gains a premier fighting‑game platform poised for international growth.

Key Takeaways

  • •NODWIN exits EVO ownership, sells stake to RTS
  • •EVO expansion target: emerging markets partnership
  • •NODWIN reports Rs530.3 crore revenue, 58% YoY growth
  • •EBITDA positive Q3 FY26 after portfolio shift
  • •Nazara relinquishes majority control over NODWIN

Pulse Analysis

The Evolution Championship Series (EVO) has long been the flagship event for fighting‑game enthusiasts, drawing top players, publishers, and millions of viewers worldwide. By transferring full ownership to RTS, the tournament gains a dedicated operator with a clear mandate to scale its footprint beyond traditional strongholds. This aligns with a broader industry trend where specialist promoters acquire marquee IPs to accelerate cross‑regional broadcasting, sponsorship, and digital‑first experiences, positioning EVO for deeper penetration into markets such as Southeast Asia, Latin America, and Africa.

NODWIN Gaming’s decision to divest EVO comes on the heels of a robust financial rebound, highlighted by Rs 530.3 crore in revenue and a 58% year‑on‑year increase, pushing the firm back into EBITDA‑positive territory. The capital liberated by the sale is being redirected toward local intellectual property development and ecosystem building in the Global South, where mobile‑first gaming and affordable broadband are driving rapid user adoption. By focusing on home‑grown titles and regional tournaments, NODWIN aims to capture higher-margin opportunities and reduce reliance on legacy console‑centric events.

For RTS, acquiring EVO represents a strategic foothold in the competitive‑gaming segment, complementing its existing portfolio of esports properties. The partnership with NODWIN as a regional ally ensures continuity in market insights and on‑ground execution, mitigating integration risks. As sponsors seek authentic engagement with younger, digitally native audiences, the expanded EVO platform offers a premium venue for brand activation, data‑driven advertising, and franchised league models. The combined expertise of RTS and NODWIN is likely to accelerate EVO’s global rollout, setting a new benchmark for tournament scalability in the evolving esports landscape.

Deal Summary

NODWIN Gaming has sold its entire stake in the Evolution Championship Series (EVO) to RTS, marking a strategic portfolio realignment for the esports firm. The transaction transfers ownership of the leading fighting‑game tournament to RTS, while NODWIN will remain a regional partner for EVO's expansion in emerging markets. Financial terms were not disclosed.

Article

Source: Entrackr

NODWIN Gaming offloads full stake in EVO to RTS

By Shashank Pathak

20 Feb 2026 11:21 IST

Shashank Pathak

NODWIN Gaming

NODWIN Gaming has sold its entire stake in the Evolution Championship Series (EVO) to RTS. The move marks a strategic portfolio realignment for the esports firm. Despite exiting its ownership position, NODWIN said it will continue to support EVO’s expansion in emerging markets as a long‑term regional partner.

EVO is one of the world’s largest fighting‑game tournaments and brings together players, publishers and fans from across global markets. RTS will now lead the next phase of growth for the platform as it pursues further international expansion.

The transaction aligns with NODWIN Gaming’s renewed focus on emerging gaming markets. The company said it will continue to invest in local intellectual properties and ecosystem development across high‑growth regions in the Global South.

On the financial front, NODWIN returned to an EBITDA‑positive position in Q3 FY26. For the first nine months of FY26, the company reported revenue of Rs 530.3 crore (about $58.5 million), a 58 % year‑on‑year increase.

NODWIN Gaming will also work with RTS on EVO’s expansion into emerging markets. Further announcements are expected in the coming months.

In January 2018, Nazara Technologies acquired a 55 % stake in NODWIN Gaming through a cash‑and‑stock deal. It later infused capital into the Gurugram‑based company through multiple tranches. In July last year, Nazara said it would no longer retain majority control in NODWIN Gaming.

Disclaimer:

Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

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