Acquisitions17 May 2025, 04:53 pm
Nazara Technologies Subsidiary Acquires Intellectual Property Rights of Wrestling Websites for $1.25 Million
AI Summary
Nazara Technologies Limited has informed the stock exchange about the completion of the acquisition of Intellectual Property Rights of 'ITR Wrestling and TJR Wrestling' by its subsidiary Sportskeeda Inc. The total consideration for the acquisition is USD 1,250,000 (equivalent to approximate INR 10.5 Crores) in cash. The acquisition includes brand, domain, content, and social media accounts, excluding certain assets as defined in the agreement.
Key Highlights
- Nazara Technologies' subsidiary, Sportskeeda Inc., completes the acquisition of Intellectual Property Rights of 'ITR Wrestling and TJR Wrestling' from Titan Insider Digital Limited
- The total consideration for the acquisition is USD 1,250,000 (equivalent to approximate INR 10.5 Crores) in cash
- The acquisition includes brand, domain, content, and social media accounts
- The acquisition does not include certain assets as defined in the agreement
- This acquisition is in compliance with Regulation 30 read with Schedule III of the Listing Regulations