Nazara Technologies Increases Stake in Absolute Sports to 81.94%

Gaming platform company Nazara Technologies has acquired an additional 10.26% stake in its subsidiary Absolute Sports for Rs 72.73 crore, according to a recent exchange filing on December 26. The acquisition raises Nazara's total stake in the Sportskeeda parent company to 81.94%.

The transaction, involving the purchase of 21,830 equity shares at Rs 1 each, is an intrinsic part of a share purchase agreement from September. In the original deal, the founding shareholders, Porush Jain and Srinivas Cuddapah outlined the acquisition of a 19.35% stake in Absolute Sports.

Through its subsidiary Sportskeeda, Absolute Sports has maintained its position among the top 10 US sports news websites as of September 30. The company has shown strong performance, reporting 22% revenue growth and 18% EBITDA growth in the first half of fiscal year 2025.

Nazara's business portfolio spans three main segments: Gaming, Esports, and Ad-tech. In H1FY25, esports contributed 57% to the company's revenue, while gaming accounted for 36%. Geographically, North America represents Nazara's largest market with a 39% revenue share, followed by India at 31% and Rest of the World at 30%.

While Sportskeeda's business continues to grow robustly, the company noted a temporary setback with Pro Football Network, which experienced a lower EBITDA. "Pro Football Network was impacted during September which affected its traffic flow when the NFL season was starting. We believe this is a temporary glitch and the site should recover in the next few quarters," the company stated.