Nazara's Absolute Sports acquires assets of SoapCentral.Com, a US entertainment content website
The transaction is for an all-cash consideration of $1.4 Million (~ INR 11.6 crores) and is expected to be closed in the next 30 days.
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Absolute Sports, a Nazara Technologies subsidiary and the parent company of Sportskeeda.com and ProFootballNetwork.com, one of the leading providers of sports news and analysis with over 100 million fans engaging with its platform monthly, announced that it has signed an asset purchase agreement, subject to closing conditions, to acquire all of the assets of SoapCentral.com, a source of entertainment content in the US.
The transaction is for an all-cash consideration of $1.4 Million (~ INR 11.6 crores) and is expected to be closed in the next 30 days. In CY23, SoapCentral.com had revenues of US $621K (~ INR 5.2 crores). Absolute Sports will use its cash reserves to fund the transaction.
Absolute Sports aims to become one of the leading sports and entertainment focused publishers in the US market and this acquisition is a strong step towards achieving that goal, stated the company. The company already operates SK Pop (Pop-Culture) and has experience scaling entertainment content under the SK-Pop banner. The company expects to unlock massive synergies with its content scaling and operating playbooks to establish Soap Central as a leading entertainment content destination for fans in the US, highlighted the company.
"We are thrilled to announce our expansion in the entertainment segment with the acquisition of Soap Central. The entertainment publishing industry is more than twice the size of sports publishing (Similarweb, 2024) and allows us a great canvas for expansion into multiple content categories,” said Ajay Pratap Singh, chief executive officer, Absolute Sports. “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.”
