Nazara Technologies Acquires Fusebox Games For Rs 228 Cr
With this acquisition Nazara Technologies aims to strengthen its position in the intellectual property (IP) based gaming business
Nazara Technologies has paid Rs 228 crores (USD 27.2 million) in cash for Fusebox Games, a UK-based gaming studio. This acquisition is part of Nazara's overall goal to increase its position in the IP-based gaming market.
Nazara Technologies has completed the acquisition of Fusebox, which is recognised for its interactive story game 'Love Island' and development of games based on popular TV IPs. In 2023, Fusebox recorded revenues of Rs 87.5 crores (USD 10.4 million) and EBITDA of Rs 11.7 crores (USD 1.4 million). In the first seven months of 2024, the company reported revenue of Rs 116.6 crores (USD 13.9 million) and EBITDA of roughly Rs 33.3 crores (USD 4 million).
Fusebox's games are predominantly monetised through in-app purchases, which accounted for around 92 per cent of their revenue in 2024. The studio's games are aimed towards the US, UK, Australia, Canada and other European countries.
Nitish Mittersain, Founder & CEO of Nazara Technologies, stated, "This acquisition is part of our strategy to build a global gaming business focused on IP-based games." We hope to provide Fusebox with improved user acquisition techniques, data analytics and operational skills."
The acquisition of Fusebox is part of Nazara's overall strategy of growing its worldwide gaming operations and incorporating new capabilities into its business model. This decision is expected to boost Nazara's standing in the competitive gaming business.
