Nazara Technologies, a prominent media and gaming firm, has acquired London based gaming studio Fusebox Games for approximately £21.18 million (INR 234.55 crore).
Earlier this month, Nazara Technologies and Nazara UK reached an agreement with Fusebox’s existing shareholders and founders.
The acquisition, completed on August 23, 2024, sees Nazara UK obtaining 100% of Fusebox’s issued share capital.
As a result, Fusebox is now a wholly owned subsidiary of Nazara UK and a step-down subsidiary of Nazara Technologies, according to an official exchange filing.
The acquisition aligns with Nazara Technologies’ growth strategy to enhance its global gaming portfolio and capitalize on the burgeoning gaming market.
Nitish Mittersain, Founder and CEO of Nazara Technologies, emphasized the significant opportunity in leveraging Fusebox’s expertise in IP-based games.
Nitish Mittersain highlighted Nazara’s intention to use its core user base in India to support global studios with user acquisition, data analytics, live operations, and AI solutions.
Fusebox Games, known for its interactive story-based games such as ‘Love Island,’ which is based on the popular British TV show, has a strong presence in developed markets including the United States, United Kingdom, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand.
The studio’s games are monetized primarily through in-app purchases and are developed around popular global TV IPs.
In the fiscal year 2023, Fusebox reported a revenue of INR 87.5 crore and an EBITDA of INR 11.7 crore.
For the period of January to July 2024, the studio’s revenue surged to INR 116.6 crore with an EBITDA of INR 33.3 crore, reflecting robust financial performance.
The acquisition is part of Nazara Technologies’ broader strategy to expand its international presence through strategic investments.
In recent months, Nazara has been actively acquiring stakes in various gaming and esports firms.
Notably, Nazara’s subsidiary Absolute Sports acquired intellectual property rights from US-based Deltia’s Gaming for $900,000 (approximately INR 7.5 crore).
The company has also strengthened its presence in casual gaming sector with acquisition of the casual freemium card game “Ultimate Teen Patti” through its subsidiary Nextwave Multimedia.
