Absolute Sports, the subsidiary of Nazara Technologies which operates sports media brands Sportskeeda and Pro Football Network, is buying all intellectual property (IP) assets of Deltias Gaming LLC, a US gaming content platform, for Rs 7.5 crore ($900,000) in an all-cash deal.
The acquisition, announced on August 6, is expected to bolster the company's presence in the gaming and esports media publishing sector in the United States.
This is the third acquisition for Absolute Sports in the United States after the purchase of sports media firm Pro Football Network for Rs 16 crore ($1.82 million) in March 2023 and entertainment content destination SoapCentral for Rs 11.6 crore ($1.4 million) in June 2024.
Absolute Sports will use its cash reserves to fund this acquisition which is expected to close in the next 45 days.
"With this acquisition, Absolute Sports will now serve upwards of 5 million US gaming enthusiasts with high-quality gaming and esports-related news and analysis content on our various properties,” said Ajay Pratap Singh, CEO of Absolute Sports.
Founded by Jacob A. Hausman, Deltia's Gaming started as a gaming-focused YouTube channel in 2014. It later expanded to include a Twitch streaming channel and a standalone website in 2021.
The website covers a series of massively multiplayer online games and is popular for its gaming guides and tutorials. It claims to have a user base of almost 1.5 million readers every month.
DeltiasGaming.com had revenues of $575,000 (around Rs 4.8 crores) for the twelve months ending June 2024.
Through this deal, Absolute Sports' US subsidiary Sportskeeda Inc is acquiring all of Deltia's Gaming intellectual property rights including but not limited to domain rights, trademark, content, website, and software codes among others.
The company said the acquisition will provide them access to a large audience on YouTube and popular gaming streaming network Twitch under Deltia's Gaming brand.
The United States is the biggest market for the Sportskeeda parent, accounting for about 69.1 percent of the company's revenues in FY24. Absolute Sports' revenue from the region was at Rs 135.4 crore for FY24, as compared to the overall revenues of Rs 196 crore.
In March, Nazara Technologies had earmarked a $100-million war chest for global expansion over the next 24 months.
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