Mumbai: Nazara Technologies has acquired Fusebox Games Limited, a prominent UK gaming studio, in an all-cash deal for INR 228 Cr (US$27.2 million).
Fusebox released the interactive story game ‘Love Island’ and is working on more games based on popular global TV shows. In CY23, the company earned INR 87.5 Cr (US$10.4 million) in revenue and an EBITDA of INR 11.7 Cr. In CY24, Fusebox had robust growth, with YTD revenues at INR 116.6 Cr (US$13.9 million) and an EBITDA of ~INR 33.3 Cr (US$4.0 million).
Fusebox offers IP-driven interactive story games mainly monetized through in-app purchases, which make up about 92% of total revenues as of July’24. Their target markets are developed countries like US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand. The company has 30 employees based in the UK.
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.”
