This marks the first acquisition for Absolute Sports in the US Sports Media market as it looks to bolster its existing user base and offerings in the US.
The all-cash transaction includes acquisition of 73.3% stake for US$1.82 million (~ Rs 16 crore) through primary infusion of capital and secondary stock purchases.
In CY22, PFN had revenues of US $2.1 million (~ Rs 17.5 crore). Absolute Sports will use its cash reserves to fund the transaction.
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