Nazara’s subsidiary acquires assets of US-based Deltia's Gaming
Absolute Sports will fund the transaction using its cash reserves and looks to expand its presence in the US region.
Nazara Technologies’ subsidiary Absolute Sports said on Tuesday that it had signed an asset purchase agreement to acquire all assets of Deltia's Gaming for about Rs 7.5 crore ($900,000).
The all-cash consideration will be paid over one or more tranches and is expected to close in the next 45 days. The company will fund the transaction with its cash reserves, according to a statement.
Absolute Sports, the parent company of Sportskeeda.com, ProFootballNetwork.com, and SoapCentral.com, will deepen its presence in the esports media publishing and gaming sector in the US region with the acquisition.
The acquisition will also give the company access to a large audience on YouTube and Twitch under the Deltia's Gaming brand.
“With this acquisition, Absolute Sports will now serve upwards of five 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.
Deltia's Gaming had revenue of about Rs 4.8 crores ($575,000) for the twelve months ending June 2024.
Nazara and its units have been on an acquisition spree this year, with recent deals including Paper Boat Apps and Ultimate Teen Patti.
In March, the listed gaming company said it would earmark $100 million over the next 24 months for strategic mergers and acquisitions.
Nazara is also facing a potential Rs 1,120 crore GST bill after its subsidiaries Openplay Technologies and Halaplay Technologies received notices from the GST department last month.
However, the company said these subsidiaries are minor contributors, generating less than 2% of its revenue and 1% of its profit in the quarter ending March 2024.
Edited by Affirunisa Kankudti
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