JetSynthesys Acquires Skyesports Aiming to Bolster Esports in South Asia
Digital entertainment and technology company JetSynthesys has acquired esports firm Skyesports and will be forming a new entity known as Jet Skyesports. According to a report by IGN India, JetSynthesis owner Rajan Navani is trying to capitalize on esports being a medal event at the 2022 Asian Games and the organization will also seek to solidify its existing titles like Sachin Saga and Real Cricket. JetSynthesis also has a minority stake in NODWIN Gaming, one of India’s biggest esports organizations. Unlike NODWIN which focuses on the top esports players in the South Asian region, Jet Skyesports will focus on the grassroots level and support up and coming esports players.
Jet Skyesports seeks to focus on the grassroots level of esports
Navani believes that 2022 is going to be a major year for esports as it will be a part of the Asian Games for the first time ever. With Indian esports professionals set to compete in the prestigious event, it can help expand esports’ influence in India.
The new entity, Jet Skyesports Gaming Pvt. Ltd., will see JetSynthesis own 65% stake and the founders will hold 35%. Jet Synthesis seeks to strengthen Skyesports’ presence in India and expand to South Asia to create more IPs. In addition to having a majority stake in Jet Skyesports, Jet Synthesis is a minority investor NODWIN Gaming and it also acquired Nautilus Gaming in October 2020.
CEO and co-founder of Skyesports, Shiva Nandy, said “This is a well-timed partnership and we are very happy that JetSynthesys and Skyesports’ vision are on the same track. The esports and gaming market is growing at a rapid pace in the country and the investment comes as a strategic move and at the right time to explore bigger opportunities.”
Skyesports recently launched its own talent management organization ‘Sky Route’. Upon learning about the signing of Velocity Gaming by Sky Route, AFK Gaming talked about how the deal could lead to potential conflict of interest. Navani talked to IGN India about the recent deal and said that JetSynthesys would prevent any kind of potential conflicts from taking place.
He said "Sure there are going to be those who use a team to cheat and try and win. I'm sure there are companies who will try and do that, and, you know, make things like that. That is not for us…I fully agree with you that these are things that we need to be wary about. We should definitely not ignore it completely."
The tournament organizer recently announced the Skyesports Championship 3.0 with a total prize pool of INR 55,00,000 ($74,038 USD) spread across six esports titles including Battlegrounds Mobile India, Valorant, Brawl Stars, Clash of Clans and more.