Nazara Technologies’ subsidiary and parent company of Sportskeeda.com and ProFootballNetwork.com -- Absolute Sports has signed an asset purchase agreement to acquire all of the assets of SoapCentral.com, a premier source of entertainment content in the US. The transaction is for an all-cash consideration of $1.4 million (around Rs 11.6 crore) and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of $621K (around Rs 5.2 crore). Absolute Sports will use its cash reserves to fund the transaction.
Absolute Sports aims to become one of the leading sports and entertainment focused publishers in the US market and this acquisition is a strong step towards achieving that goal. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner. The company expects to unlock massive synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US.
Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.
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|---|---|
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| Infosys | 1318.60 |
| HCL Tech. | 1442.50 |
| Wipro | 204.35 |
| Tech Mahindra | 1511.85 |
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