Mumbai-based gaming and esports company Nazara Technologies Recently announced that it has completed 100% acquisition from UK-based Fusebox Games in an all-cash deal worth Rs 230 crore.
The development marks the second acquisition of a gaming studio outside of India and the largest acquisition for the Indian gaming company.
Prior to this, Absolute Sports, a subsidiary of Nazara Tech, announced the acquisition of all assets of DeltiasGaming.com.
Acquisition Announcement
Earlier this month, Nazara Technologies announced which is acquiring London-based game studio Fusebox Games.
“We see a huge opportunity in building a global IP-based 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 the implementation of our in-house AI playbook,” said Nitish Mittersain, Founder and CEO of Nazara Technologies.
“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 significant scale,” Mittersain added.
What does Fusebox Games do?
Fusebox is a free-to-play mobile game studio specialising in interactive story-driven games. The studio publishes a popular interactive story-driven game, ‘Love Island’, and is developing new games based on globally popular TV IPs.
It operates IP-based interactive story games that are primarily monetized through in-app purchases, which accounted for approximately 92% of total revenue as of July 2024.
It is aimed at developed markets
Fusebox is primarily targeted at developed markets including the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway and New Zealand.
The company has 30 employees, mainly in the UK.
Fusebox Games Financial Performance
In calendar year 23, Fusebox reported revenues of Rs 87.5 crore (USD 10.4 million) with EBITDA of Rs 11.7 crore (USD 1.4 million).
During calendar year 24, the company demonstrated strong growth with year-to-date revenue (January-July 2024) of Rs 116.6 crore ($13.9 million) with EBITDA of ~Rs 33.3 crore ($4.0 million).
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