Nazara's Absolute Sports Acquires US Entertainment Hub SoapCentral.com

Absolute Sports, a subsidiary of Nazara Technologies, acquired US content website SoapCentral.com for $1.4 million. The acquisition, through Sportskeeda.com, aims to enhance the company's presence in the US sports and entertainment market. SoapCentral had a monthly website footprint of over 4 lakh and a gross turnover of $621,000 in 2023.

In a significant move to broaden its footprint in the US sports and entertainment market, Absolute Sports, a subsidiary of Nazara Technologies, has acquired SoapCentral.com. The all-cash deal, valued at USD 1.4 million (approximately Rs 11.6 crore), was orchestrated through Absolute Sports' wholly-owned subsidiary, Sportskeeda.com.

According to a company statement, the acquisition, expected to be finalized within 30 days, will be funded using the company's cash reserves. The regulatory filing reveals that Sportskeeda Inc., the purchasing entity, will acquire all Intellectual Property Rights related to SoapCentral, including domain, trademark, content, and software codes, among others.

CEO Ajay Pratap Singh expressed confidence in the move, noting the considerable potential of the entertainment publishing industry, which he highlighted as more than twice the size of sports publishing. SoapCentral, which boasts a monthly visitor count exceeding 4 lakh, reported a gross turnover of USD 621,000 in CY2023.