Nazara Technologies Acquires Fusebox Games For Rs 228 Crore

Gaming and esports company Nazara Technologies Ltd. announced the acquisition of Fusebox Games, a UK-based IP gaming studio, on Thursday.

The acquisition will be in an all-cash deal valued at Rs 228 crore, according to a statement by the company.

Fusebox, which has 30 employees primarily located in the UK, will be fully acquired by Nazara Technologies for the stated amount.

"Nazara Technologies, India’s only publicly listed diversified gaming and sports media company, announced the acquisition of Fusebox Games," a release said.

Fusebox publishes interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs.

For calendar year 2023, the company reported revenue of Rs 87.5 crore with an Earnings Before Interest Tax Depreciation and Amortisation of Rs 11.7 crore.

According to the release, during calendar year 2024, Fusebox demonstrated strong growth with year-to-date revenue (January-July) at Rs 116.6 crore, with an Ebitda of Rs 33.3 crore.

"We see a large opportunity in building an IP-based global gaming business that benefits from our core base in India where we can support global studios through enhanced user acquisition strategies, data analytics, live operations and new initiatives such as implementing our in-house AI playbook," said Nitish Mittersain, founder and CEO of Nazara.

"Many of our existing IPs are good examples of this strategy and we are happy to join forces with the talented team at Fusebox as we continue to build Nazara into a global gaming company of meaningful scale."

(With Inputs From PTI)