Sportskeeda is looking to acquire intellectual property rights of Deltia’s Gaming for $900,000 (around INR 7.57 Cr) in an all-cash deal, Nazara said in a filing
The proposed acquisition is pending regulatory approval and is subject to fulfillment of certain customary terms and conditions set forth in the agreement
Founded by Jacob A Hausman, Deltia’s Gaming is an online platform that enables players to enhance their skills, discover new games, and connect with fellow enthusiasts
Sportskeeda, the sports media arm of Absolute Sports, a wholly owned subsidiary of listed gaming major Nazara Technologies, is looking to acquire intellectual property rights of US-based gaming and esports content platform Deltia’s Gaming for $900,000 (around INR 7.57 Cr) in an all-cash deal.
Sportskeeda has entered into an asset purchase agreement with Deltia’s Gaming, a Nebraska Limited Liability Company, to acquire the latter’s IP rights including but not limited to domain rights, trademark, content, website, software codes, among others, Nazara said in an exchange filing.
The payment will be made in one or more tranches, with the deal expected to be finalised within the next 45 days.
However, the proposed acquisition is pending regulatory approval and is subject to fulfillment of certain customary terms and conditions set forth in the agreement between the two parties, the filing added.
Founded by Jacob A Hausman, who goes by the moniker Deltia in the gaming community, Deltia’s Gaming is an online platform that enables players to enhance their skills, discover new games, and connect with fellow enthusiasts.
It clocked a revenue of $575,000 (around INR 4.8 crores) for the twelve-month period ending June 2024.
With this buyout, SportsKeeda aims to strengthen its presence in the gaming and esports media publishing sector in the US region.
It plans to tap Deltia’s Gaming’s strong user base of almost 1.5 Mn monthly readers and its long-standing brand equity, to establish the group as an authoritative voice in the gaming media space.
The acquisition will also give Sportskeeda access to a large audience on YouTube and popular gaming streaming network Twitch under the Deltia’s Gaming brand.
This comes days after Nazara Technologies’ subsidiary Absolute Sports made its entry into the US market with the acquisition of all the assets of Pennsylvania-based entertainment news site Soap Central for $1.4 Mn (around INR 11.6 Cr) in an all-cash deal.
It is pertinent to note that Mumbai-based Nazara acquired a controlling stake in sports media website Sportskeeda for INR 44 Cr in 2019.
Since being acquired by Nazara, Sportskeeda has been on a buying spree. In April last year, Sportskeeda picked up a 73.27% stake in Pro Football Network in an all-cash deal worth $1.82 Mn.
