Indian gaming firm Nazara Tech completes acquisition of UK-based Fusebox Games

Mumbai-based gaming and esports firm Nazara Technologies recently announced it has completed a 100% acquisition of UK-based Fusebox Games in a cash deal worth Rs 230 crore.

The development marks the second acquisition of a gaming studio outside India and the largest acquisition for the Indian gaming company. 

Prior to this, Nazara Tech subsidiary Absolute Sports announced the acquisition of all assets of DeltiasGaming.com.

Acquisition announcement

Earlier this month, Nazara Technologies announced that it is acquiring London-based gaming studio Fusebox Games. 

“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," said Nitish Mittersain, Founder & CEO of Nazara Technologies.

"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," Mittersain added.

What does Fusebox Games do?

Fusebox is a mobile free-to-play studio that specializes in interactive story games. The studio publishes a popular interactive story game ‘Love Island’ and is developing new games based on popular global TV IPs.

It 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.

Targets developed markets 

Fusebox primarily targets developed markets, including the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand.

The company has 30 employees, primarily based in the United Kingdom.

Fusebox Games' financial performance 

In CY23, the Fusebox reported revenues of Rs 87.5 crore ($10.4 million) with an EBITDA of Rs 11.7 crore ($1.4 million).

During CY24, the company demonstrated strong growth with YTD revenues (Jan - July’24) at Rs 116.6 crore ($13.9 million) with an EBITDA of ~Rs 33.3 crore (EBITDA of $4.0 million).