Absolute Sports acquires assets of DeltiasGaming.Com, a Leading US Gaming and Esports Content Platform

Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com, ProFootballNetwork.com and SoapCentral.com, has signed an asset purchase agreement, subject to closing conditions, to acquire all the assets of DeltiasGaming.com, a premier source of gaming and esports content in the US. The transaction is for an all-cash consideration of $900K (~INR 7.5 crores) to be paid over one or more tranches and is expected to be closed in the next 45 days.

DeltiasGaming.com had revenues of US $575K (~INR 4.8 crores) for the twelve-month period ending June 2024. Absolute Sports will use its cash reserves to fund the transaction.

With this acquisition, Absolute Sports, which already serves a large gaming audience with its flagship brand Sportskeeda.com, aims to deepen its presence in the gaming and esports media publishing sector in the US region. It intends to leverage Deltia's Gaming's loyal user base of almost 1.5 million monthly readers and its long-standing brand equity, to establish the group as an authoritative voice in the gaming media space. The acquisition also provides the group access to a large audience on YouTube and popular gaming streaming network Twitch under the Deltia's Gaming brand.

"With this acquisition, Absolute Sports will now serve upwards of 5 Million US gaming enthusiasts with high quality gaming and esports related news and analysis content on our various properties." said Ajay Pratap Singh, CEO of Absolute Sports.

Shares of Nazara Technologies Limited was last trading in BSE at Rs. 901.00 as compared to the previous close of Rs. 908.60. The total number of shares traded during the day was 87728 in over 5137 trades.

The stock hit an intraday high of Rs. 953.65 and intraday low of 895.35. The net turnover during the day was Rs. 82037792.00.

Source : Equity Bulls

Keywords

NazaraTechnologies INE418L01021 AbsoluteSports AssetAcquisition DeltiasGaming