Nazara Technologies’ subsidiary acquires assets of SoapCentral.com for an all-cash consideration of ₹11.6 crore

According to the exchange filing, Nazara Technologies entered into an asset purchase agreement for all of SoapCentral.com’s assets for an all-cash consideration of ₹11.6 crore. Absolute Sports will use its cash reserves to fund the transaction which is expected to be completed in the next 30 days.

In the calendar year 2023, SoapCentral.com had a revenue of ₹5.2 crore. Founded by Dan J. Kroll, Soap Central was launched in March 1995 and provides the latest news, daily recaps, sneak peeks and previews, character profiles, interviews, and more for US TV shows. The website gets upwards of 400,000 users visiting the site monthly.

Absolute Sports said it aims to become one of the leading publishers in the sports and entertainment segments in the US market. Through the acquisition, the company expects to unlock synergies with content scaling and operating playbooks to establish SoapCentral as a leading entertainment content destination for fans in the US.

Ajay Pratap Singh, chief executive officer of Absolute Sports said the acquisition of Soap Central will allow the company to expand into multiple content strategies. “Having tested our content publishing and hyper-growth playbook with the acquisition of Pro Football Network last year, we are confident of scaling Soap Central in a very short time,” he said.

In FY24, Nazara Technologies reported a 21.8% year-on-year growth in its net profit to ₹74.8 crore. The company’s revenue from operations grew 4.3% YoY to ₹1,138 crore. During the year, the firm saw a 16.5% YoY rise in its earnings before interest, tax, depreciation, and amortisation (EBITDA) to ₹127.9 crore with EBITDA margins expanding to 11.2% compared to 10.1% in FY23.

Shares of the company have declined by nearly 17% since the beginning of the year. The stock has gained nearly 12% in the last one year.