Nazara Technologies, India’s publicly listed diversified gaming and sports media company, has acquired Fusebox Games (Fusebox), an IP-based gaming studio in the United Kingdom. Nazara Technologies will purchase Fusebox for Rs 228 crore or US$ 27.2 million in an all-cash transaction.
Recently, Absolute Sports, a Nazara Technologies subsidiary, had signed an asset purchase agreement subject to closing conditions, to acquire all the assets of DeltiasGaming.com, a source of gaming and esports content in the US.
Fusebox has an interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs. In CY23, the company reported revenues of Rs 87.5 crore or US$ 10.4 million with an EBITDA of Rs 11.7 crore or US$ 1.4 million. During CY24, Fusebox has demonstrated growth with YTD revenues (January – July 2024) at Rs 116.6 crore or US$ 13.9 million with an EBITDA of Rs 33.3 crore (EBITDA of US$ 4.0 million).
Fusebox operates IP-driven interactive story games that are primarily monetised through in-app purchases, accounting for 92% of the total revenues YTD July 2024. The games primarily target developed markets including the US, UK, Australia and Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand among others.
Nitish Mittersain, Founder and CEO, Nazara Technologies, 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 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 meaningful scale.”
