On August 06, 2024, Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com, ProFootballNetwork.com, and SoapCentral.com, announced an agreement to purchase the assets of DeltiasGaming.com.
DeltiasGaming.com is a leading source of gaming and esports content in the US. The deal, valued at $9,00,000 (~₹7.5 crore), will be paid in one or more instalments and is expected to be completed within the next 45 days. DeltiasGaming.com generated revenues of $5,75,000 (around ₹4.8 crore) for the 12 months ending June 2024. Absolute Sports will use its cash reserves to fund this purchase.
By acquiring DeltiasGaming.com, Absolute Sports, already popular in the gaming world with Sportskeeda.com, plans to strengthen its position in the US gaming and esports media market. They aim to leverage DeltiasGaming.com’s loyal user base of nearly 1.5 million monthly readers and strong brand reputation to become a leading voice in gaming media. This acquisition also gives Absolute Sports access to a large audience on YouTube and Twitch under the DeltiasGaming brand.
“With this acquisition, Absolute Sports will now reach over 5 million US gaming fans, providing high-quality gaming and esports news and analysis through our various platforms,” said Ajay Pratap Singh, CEO of Absolute Sports.
Founded in 2009, Absolute Sports is the parent company of Sportskeeda.com, ProFootballNetwork.com, and SoapCentral.com. It is a global digital media platform that covers major sports, gaming, esports, and entertainment topics, reaching over 100 million fans each month. The team comprises top content creators worldwide who produce hundreds of well-researched multimedia content pieces daily. In 2019, Nazara, a publicly traded and diverse gaming and sports media platform, acquired a majority stake in Absolute Sports Private Limited.
Nazara Technologies is India’s top gaming and sports media platform. It operates in India and in emerging and developed markets like Africa and North America. Nazara offers services in interactive gaming, esports, and gamified early learning.
On August 06, 2024, Nazara Technologies Ltd’s share price opened at ₹933.30, touching the day’s high at ₹953.70 at 02:02 PM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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