 "Nazara arm buys assets of US gaming content platform DeltiasGaming.com")
Nazara Technologies' subsidiary Absolute Sports will acquire all the assets of DeltiasGaming.com, a US gaming and esports content platform, for about Rs 7.5 crore, a release said on Tuesday.
DeltiasGaming.com had revenues of $ 575,000 (about Rs 4.8 crore) for 12-month period ended June 2024.
Absolute Sports will use its cash reserves to fund the all-cash transaction, to be paid over one or more tranches. The Rs 7.5 crore transaction is set to be closed in the next 45 days.
"Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com, ProFootballNetwork.com and SoapCentral.com, today announced that it has signed an asset purchase agreement, subject to closing conditions, to acquire all the assets of DeltiasGaming.com," the release said.
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 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 release further said.
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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," Ajay Pratap Singh, CEO of Absolute Sports said.