Nazara Stock Jumps as Absolute Sports makes strategic acquisition of SoapCentral.com

About Acquisition

Sports media giant Absolute Sports has announced a strategic move into the US entertainment market with the acquisition of SoapCentral.com, a leading source of entertainment content. This acquisition marks a significant expansion for Absolute Sports, which is a subsidiary of Nazara Technologies and the parent company of popular sports websites Sportskeeda.com and ProFootballNetwork.com.

The deal, valued at USD 1.4 million (Rs 11.6 crore), involves the purchase of all assets of SoapCentral.com. Absolute Sports plans to leverage its existing cash reserves to fund the transaction, which is expected to close within the next 30 days. This move signals Absolute Sports’ ambition to become a major player in the US sports and entertainment publishing landscape. The entertainment publishing industry boasts a market size more than double that of sports publishing, offering Absolute Sports a vast potential for growth and diversification.

Absolute Sports isn’t venturing into uncharted territory. The company already operates SK Pop, a platform dedicated to pop culture content. This experience, coupled with the success of their “content scaling and operating playbooks” implemented during the acquisition of Pro Football Network last year, gives Absolute Sports confidence in their ability to grow SoapCentral.com into a leading entertainment destination for US audiences.

Share Price Movement

Nazara Technologies Ltd share is trading at Rs 682.30, which is an increase of Rs 5.05 or 0.75% from the previous close. The stock opened at Rs 660.00 and reached a high of Rs 712.95 today. The 52-week high for NAZARA is Rs 989.55 and the 52-week low is Rs 590.85. It is currently trading within the upper price band of Rs 812.70 and the lower price band of Rs 541.80. This indicates that the stock is not outside its normal trading range.

About Company

Nazara Technologies is a leading Indian gaming and sports media platform offering interactive gaming, eSports, and gamified early learning ecosystems. The company aims to cater to billions of mobile internet players in emerging markets who embrace social multiplayer interactive gaming. They provide entertaining, locally relevant games and apps that result in positive engagement and longer retention. Nazara Technologies leverages its market-first position in sports simulation and eSports to grow revenue and profitability, leveraging its in-house content creation, game engine development, technology stack development, and skilled leadership.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.