Nazara Technologies becomes sole owner of Sportskeeda after complete acquisition

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Nazara Technologies has acquired the remaining 8.97% stake in Absolute Sports Private Limited, the parent company of Sportskeeda. With this move, Absolute Sports is now a wholly-owned subsidiary of Nazara.

According to a report by Inc42, Nazara had initially bought a 6.05% stake in Absolute Sports for ₹19.99 Cr in 2022. Followed by December 2023, Nazara had already increased its holding in Absolute Sports by acquiring a 10.26% stake for ₹72.73 Cr. The company has now completed the full acquisition by purchasing the remaining 18,330 equity shares at ₹1 each, totaling ₹69.17 Cr. This was confirmed in Nazara’s exchange filing on March 19, 2025.

Absolute Sports, founded in 2010, operates in the media and entertainment industry. The company provides sports-related content, live scores, schedules, and gaming services. Sportskeeda, one of its key platforms, has been expanding its presence through strategic acquisitions. In 2023, the Bengaluru-based company signed an asset purchase agreement with Deltia’s Gaming, a Nebraska-based LLC, for $900,000 in an all-cash deal. Earlier in 2024, Sportskeeda acquired a 73.27% stake in the US-based NFL news outlet Pro Football Network Inc for $1.82 Mn.

Nazara Technologies has been consistently increasing its investments in subsidiaries. In December 2023, it announced plans to acquire additional stakes in NODWIN, Absolute Sports, and Datawrkz. The company has also invested in Funky Monkeys and edtech platform Learntube.ai. In the same month, Nazara increased its stake in Nextwave Multimedia, the developer of the World Cricket Championship game franchise, to 74.88% from 71.88% for ₹2.3 Cr.

Previously, Nazara Technologies divested its majority stake in OpenPlay and approved an investment of up to $250,000 (approximately ₹2.17 crores) in ReelSaga Innovations Private Limited to expand into new gaming segments. This strategic move aligns with Nazara’s focus on strengthening its presence in emerging gaming categories. OpenPlay, a skill-based gaming platform, was acquired by Nazara in 2021 but faced regulatory challenges in the real-money gaming sector, prompting the divestment.

Despite these acquisitions, Nazara’s financial performance showed a decline in profits. The company reported a consolidated net profit of ₹13.7 Cr for Q3 FY25, a 53.5% drop from ₹29.5 Cr in the same quarter of the previous year. Sequentially, net profit declined 15.4% from ₹16.2 Cr. However, the gaming firm reported its highest-ever quarterly revenue at ₹534.7 Cr, compared to ₹320.4 Cr in Q3 FY24. Sequentially, revenue rose 67.7% from ₹318.9 Cr.

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