Nazara Technologies Limited informs the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015' - Update on acquisition of all the IPR of Prime Timer by Sportskeeda Inc., a wholly-owned subsidiary of Absolute Sports Private Limited, a material subsidiary of the Company
NAZARA · price
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Awaiting price reaction for this filing.
Nazara Technologies informed exchanges that its indirect subsidiary Sportskeeda Inc. has completed the acquisition of all intellectual property rights (brand, domain, content, IP, and social accounts) of 'Prime Timer' from Snugglefish Media LLC. The acquisition was executed on July 17, 2025, under an Asset Purchase Agreement dated June 26, 2025. The total purchase consideration is USD 500,000 (approximately INR 4.28 Crores), of which USD 400,000 (around INR 3.44 Crores) has already been paid, with the remaining USD 100,000 to be paid as per the agreed timeline. Sportskeeda Inc. is a wholly-owned subsidiary of Absolute Sports Private Limited, which is a material subsidiary of Nazara Technologies.
This is a small bolt-on acquisition (around INR 4.28 Crores) intended to expand Sportskeeda's content portfolio and is unlikely to have a meaningful impact on Nazara's consolidated financials or stock price. It signals continued strategic expansion of the Sportskeeda business vertical.