It has been revealed that NIP Group has partnered with ADIO Holdings Restricted Limited (ADIO) in a landmark deal worth $40 million. The huge sum will be spread over four years and is dependent on the organisation’s performance and revenue-based achievements.
At the heart of this deal sat the revelation that NIP’s global headquarters will be relocated to Abu Dhabi. This move comes as part of an effort to bolster the development of gaming and esports communities and operating models in the Middle East.
Ninjas in Pyjamas are Abu Dhabi-Bound
The report that aired this news was published by James Fudge via The Esports Advocate.
Going beyond ‘just esports’, the partnership will touch on game development and publishing, event management, creative studios, and talent development. In a statement, Hicham Chahine, the co-CEO of NIP Group, said:
We’re delighted to partner with ADIO as we bring together our Eastern and Western businesses, establishing a truly global headquarters that represents not only our growth as a company but the growth of gaming and entertainment in the Middle East.
Our selection as a key partner is the ultimate testament to NIP Group’s industry legacy and leadership.
Ninjas in Pyjamas is one of the oldest esports organisations still actively competing today, having been founded way back in 2000. In July 2024, NIP Group jumped on the NASDAQ exchange, following in the footsteps of some other esports and content organisations like FaZe Clan.
The company’s stock value is doing a lot better than FaZe Clan’s did. Presently, the organisation is trading for 6.75 USD a share, down from an ATH of 9.10 USD. FaZe peaked at 20 USD a share before bottoming out at 0.15 USD a share before being delisted.
Do you think this is a strong move by NIP, or are you concerned about those performance-based requirements to secure the agreed payments over the next four years? Let us know on the Insider Gaming forum.
For more Insider Gaming coverage, check out the news that Shroud might start a Marvel Rivals organisation
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