Nazara Technologies Limited, a leading diversified gaming and sports media platform, has announced a series of strategic moves to strengthen its market position, as disclosed in recent regulatory filings with the BSE (Scrip Code: 543280) and NSE (Scrip Symbol: NAZARA). These developments, detailed on May 7, 2025, include the acquisition of Smaaash Entertainment, the sale of its Openplay Technologies stake, and the purchase of two wrestling content platforms by its subsidiary, Absolute Sports.
Acquisition of Smaaash Entertainment
Nazara Technologies has received approval from the National Company Law Tribunal (NCLT), Mumbai, for its resolution plan to acquire Smaaash Entertainment Private Limited, a company under the Corporate Insolvency Resolution Process as per the Insolvency and Bankruptcy Code, 2016. The approval, granted on May 7, 2025, includes a modification to the provisos of the effective date. This acquisition marks a significant step for Nazara in expanding its entertainment portfolio, with further details to be shared once the NCLT order is available.
Sale of Openplay Technologies Stake
In a separate transaction, Nazara completed the sale of its 94.86% equity stake in Openplay Technologies Private Limited, a former subsidiary, to Moonshine Technology Private Limited, an associate company. The deal, finalized under a Share Purchase Agreement dated March 7, 2025, involved the transfer of 11,105 equity shares for a consideration of INR 104.34 crores, discharged through the issuance of 1,99,890 Compulsory Convertible Preference Shares (CCPS) by Moonshine to Nazara. As a result, Openplay is no longer a subsidiary of Nazara but has become a subsidiary of Moonshine, in which Nazara holds a 46.07% equity stake and a total of 4,87,266 CCPS.
Absolute Sports Acquires Wrestling Content Platforms
Nazara’s subsidiary, Absolute Sports, the parent company of Sportskeeda.com, has signed definitive agreements to acquire TJRWrestling.net and ITRWrestling.com from Titan Insider Digital for USD 1.25 million (approximately INR 10.5 crores) in an all-cash deal. The transaction, executed through Sportskeeda Inc., is expected to close within 45 days, pending closing conditions.
Established in 2009 and 2020, respectively, TJRWrestling and ITRWrestling are prominent platforms in the combat sports content industry, attracting 1.7 million monthly active users and generating 4.6 million monthly pageviews, primarily from North America. In 2024, these platforms collectively generated USD 722,000 (approximately INR 6.1 crores) in revenue. The acquisition enhances Absolute Sports’ leadership in the global combat sports content market and strengthens its U.S. market presence, aligning with its goal to deepen fan and advertiser engagement.
Ajay Pratap Singh, CEO of Absolute Sports, stated, “ITRWrestling and TJRWrestling are respected voices in the global wrestling community. This acquisition aligns with our vision to be the leading destination for wrestling content worldwide and reinforces our commitment to expanding in the U.S. media market through a targeted M&A strategy.”
Strategic Implications
These transactions underscore Nazara Technologies’ aggressive growth strategy through acquisitions and portfolio optimization. The Smaaash acquisition diversifies its entertainment offerings, while the Openplay sale streamlines its subsidiary structure, providing capital and strategic equity in Moonshine. Meanwhile, Absolute Sports’ acquisition of the wrestling platforms positions Nazara as a dominant player in the global combat sports content industry, particularly in the lucrative U.S. market.