M&A
Nazara buys 19% more in sports news portal Sportskeeda to hike stake to 91%
BSE Announcement Economic Times
Publicly listed gaming and sports media company Nazara Technologies has acquired a further 19.35% stake in Absolute Sports , the parent company of sports news website Sportskeeda, for INR 145.5 crore. Half of the consideration was paid in cash, while the rest was settled through stock. With this acquisition, Nazara holds a 91% stake in Absolute Sports.Absolute Sports has recently expanded by acquiring Pro Football Network (PFN), SoapCentral and Deltia’s Gaming, further diversifying its sports and entertainment portfolio.
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