India, June 27 -- Sportskeeda, the sports media arm and a wholly owned subsidiary of listed gaming platform Nazara Technologies' material subsidiary Absolute Sports, has signed an asset purchase agreement to acquire the intellectual property rights (IPR) of US-based entertainment content platform Prime Timer for $500K (INR 4.28 Cr).

The all-cash deal will be executed in one or more tranches, Nazara said in an exchange filing.

Sportskeeda signed the deal with the platform's founder Jed Rosenzweig and parent entity, Snugglefish Media LLC, yesterday, the filing said. As part of the deal, Sportskeeda will acquire Prime Timer's brand, domain, content, intellectual property, and social media accounts.

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