Nazara Technologies Limited (BSE: 543280) (NSE: NAZARA), India’s only publicly listed diversified gaming and sports media company, announced the acquisition of Fusebox Games Limited (“Fusebox”), a well-established IP based gaming studio in the United Kingdom. Nazara will purchase Fusebox for INR 228 Cr (US$27.2 million) in an all-cash transaction.
Fusebox publishes a successful interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs. In CY23, the company reported revenues of INR 87.5 Cr (US$10.4 million) with an EBITDA of INR 11.7 Cr (US$1.4 million). During CY24, Fusebox has demonstrated strong growth with YTD revenues (Jan – July’24) at INR 116.6 Cr (US$13.9 million) with an EBITDA of ~INR 33.3 Cr (EBITDA of US$4.0 million) *
Fusebox operates IP driven interactive story games that are primarily monetized through in-app purchases, which accounted for ~92% of the total revenues in YTD July’24. The games primarily target developed markets including US, UK, Australia and Canada, Switzerland, Sweden, Denmark, Norway, New Zealand among others. The company has 30 employees primary based in the United Kingdom.
Nitish Mittersain, Founder & CEO of Nazara said, “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. Many of our existing IP’s 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”