Fusebox Games Limited, a UK-based gaming studio, was purchased by gaming and sports media company Nazara Technologies for Rs 228 crore ($27.2 million) in an all-cash deal.
Fusebox is creating new games based on well-liked international TV properties in addition to publishing the interactive story game “Love Island.” With an EBITDA of Rs 11.7 crore ($1.4 million) and revenues of Rs 87.5 crore ($10.4 million) for CY23, the company reported.
Fusebox asserts that it has experienced significant growth in CY24, with year-to-date revenues (January–July 2024) of approximately Rs 116.6 crore ($13.9 million) and an EBITDA of about Rs 33.3 crore ($4 million).
Targeting developed markets such as the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand are among those in which Fusebox primarily operates. The company is based in the UK and employs thirty people.
In the meantime, Smaaash, a sports entertainment company that is going through bankruptcy, has sent Nazara a letter of intent (LOI) to acquire it.
Nazara declared in March that it would allocate $100 million over the course of the following 24 months to mergers and acquisitions. Since then, it has bought Kiddopia developer Paper Boat Apps and invested in Circle of Games. Nazara also took over the assets of Deltias Gaming and purchased the IP rights to Ultimate Teen Patti from Games24x7 through its subsidiaries.
Nazara reported total revenue of Rs 254.43 crore and profit of Rs 17.8 crore for the first quarter of FY25.
Nazara’s operating revenue climbed 4.3% to Rs 1,138 crore in FY24 from Rs 1,091 crore in FY23 for the fiscal year that ends in March 2024 (FY24). With its expenses under control and other income surging, the company was able to post a 23% increase in profit, from Rs 61 crore to Rs 75 crore in FY24.
Earlier this year, Kamath Associates & NKSquared, ICICI Securities, Plutus Wealth Management, and other investors backed the Nitish Mittersain-led company, which raised Rs 250 crore ($30 million).
