Nazara arm buys assets of US gaming content platform DeltiasGaming.com

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Nazara arm buys assets of US gaming content platform DeltiasGaming.com - Business Standard

Quick Summary:

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 USD 575,000 (about Rs 4.8 crore) for 12-month period ended June 2024.

"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.

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.