Absolute Sports, a subsidiary of Nazara Technologies and the parent company of Sportskeeda.com has signed an asset purchase agreement to acquire the assets of DeltiasGaming.com, a leading source of gaming and e-sports content in the United States. This acquisition deal is valued at $900,000 (approximately Rs 7.5 crore) and will be paid in one or more tranches. The transaction is expected to close within the next 45 days.
This move comes on the heels of Nazara Technologies’ recent activities in the gaming sector. Last month, Nazara’s mobile gaming arm, Next Wave Multimedia, acquired the intellectual property rights of Ultimate Teen Patti from Games24x7 for Rs 10 crore. Additionally, Nazara announced the acquisition of a 48.42% stake in Paper Boat Apps (PBA) from its promoters Anupam and Anshu Dhanuka for Rs 300 crore. Earlier in May, Nazara had also acquired the remaining 28.12% stake in Nextwave Multimedia, securing 100% ownership of the mobile gaming subsidiary.
DeltiasGaming.com, known for its rich gaming and esports content, reported revenues of $575,000 (around Rs 4.8 crore) for the twelve months ending June 2024. Absolute Sports plans to utilize its cash reserves to fund the acquisition.
The acquisition of DeltiasGaming aims to strengthen Absolute Sports’ presence in the gaming and esports media sector in the U.S. The company intends to leverage Deltia’s Gaming’s user base of nearly 1.5 million monthly readers and its established brand equity to position itself as a leading authority in the gaming media space.
Furthermore, the acquisition will provide Absolute Sports with access to a significant audience on platforms like YouTube and the popular gaming streaming network Twitch, under Deltia’s Gaming brand. This strategic move is expected to enhance Absolute Sports’ reach and influence within the gaming community.
