Shares of Nazara Technologies were climbing on Wednesday after its subsidiary, Absolute Sports, said it will acquire all the assets of SoapCentral.com, a U.S. entertainment content destination.

What Happened: The ₹11.6 crore all-cash acquisition will improve Absolute Sports’ presence in the U.S. entertainment publishing sector.

The company also operates SK Pop, a pop culture destination that provides news and trends related to K-POP (Korean Pop) and Korean media. The deal is expected to be finalised within the next 30 days, according to a regulatory filing.

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Big Opportunity: Absolute Sports’ management said the entertainment publishing industry is more than twice the size of sports publishing, offering Absolute a significant opportunity for expansion into multiple content categories. They expressed confidence in rapidly scaling SoapCentral.

Absolute Sports, through its flagship brand Sportskeeda.com, is a global sports media platform covering major sports and esports, serving over 100 million fans each month. In 2019, Nazara, a gaming and sports media platform, acquired a majority stake in Absolute Sports.

Price Action: Nazara Tech’s share price was up 4.9% at ₹708.15 in afternoon trade on Wednesday.

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