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Nazara Technologies Increases Stake In Absolute Sports

As 2024 comes to an end, Nazara Technologies has increased its inventory of shares and stakes. The Bengaluru-based company has bought 10.26% more in its subsidiary Absolute Sports, the parent company of the sports website Sportskeeda and other media outlets. The total amount earmarked is ₹72.73 Crore. This development is a part of the Share Purchase Agreement that was formed in September 2024.

Absolute Sport’s flagship brand, Sportskeeda, is a unique website that covers the sports beat and has more than 150 Million global views every month. Along with Sportskeeda, Absolute Sports also owns and operates College Football Network, Deltias Gaming and SoapCentral. The current corporate change rings good news for the websites, as it strengthens the brand’s value in the media and entertainment market.

Nazara Technologies has been on an acquisition spree throughout 2024, and its spending has grabbed headlines in the corporate and gaming industries. Earlier, the company committed to investing ₹196 Crore In the gaming and entertainment sector. In 2024, Nazara Tech’s subsidiary Datawrkz acquired Space and Time, an independent growth marketing agency in the UK. In the same year, Nazara Tech also decided to infuse ₹982 Crore in PokerBaazi.

The company has grabbed headlines not only because of its investment but also because of its collaborations. The Bangalore-based company recently collaborated with the Government of Telangana to launch an AI Centre of Excellence.

With this, Nazara Tech is becoming one of the biggest brands in the Indian gaming and real money gaming industry. With the infusion of money, the Indian gaming industry is poised to grow by leaps and bounds in the coming years.

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ALSO READ: Nazara Partners With Telangana Govt; Launches AI Center of Excellence (CoE)

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About Nazara Technologies:

Nazara Technologies is India’s only publicly listed gaming and esports company. It has majority stakes in several prominent brands in India, the US, and other global markets. In esports, Nazara owns NODWIN Gaming, India’s leading esports platform, and operates Sportskeeda/Pro Football Network in the sports media sector.

Its interactive gaming portfolio features gamified early learning platforms like Kiddopia and Animal Jam, the popular cricket simulation franchise World Cricket Championship (WCC), and a variety of casual games distributed via telco partnerships in emerging markets. Additionally, Nazara oversees Datawrkz, a digital ad tech company that provides user acquisition and ad monetization solutions for its portfolio companies and external clients.

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