NODWIN Gaming offloads full stake in EVO to RTS

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, or about $58.5 million. This represented 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.