India’s Nazara Tech Acquires UK’s Fusebox Games

Nitin Konde, Apoorva Bajj

Aug 27, 2024 — 2 min read

India’s Nazara Tech Acquires UK’s Fusebox Games

Nazara Technologies, a gaming and esports company based in Mumbai, recently made the announcement that it has successfully closed a cash transaction of INR 230 crore to acquire Fusebox Games, a company based in the United Kingdom.

Through this move, the Indian gaming corporation has made its second acquisition of a gaming studio located outside of India, and it is also the largest acquisition it has ever made.

An announcement that Absolute Sports, a subsidiary of Nazara Tech, had acquired all of the assets of DeltiasGaming.com had been made prior to this action.

Public Notification of Acquisition

Fusebox Games, a game firm based in London, was acquired by Nazara Technologies; the announcement was made earlier this month.

As stated by Nitish Mittersain, the founder and chief executive officer of Nazara Technologies, "We see an enormous potential in building an IP-based global gaming business that benefits from our core base in India. This core base allows us to support global studios by implementing enhanced user acquisition strategies, data analytics, live operations, and new initiatives such as implementing our in-house AI playbook."

"Several of our existing intellectual properties are excellent illustrations of this strategy, and we are delighted to be able to collaborate with the skilled team at Fusebox as we continue to develop Nazara into a worldwide gaming company that operates on a scale that is relevant," Mittersain noted further.

Fusebox Games

The mobile free-to-play studio known as Fusebox focusses on developing interactive story games as its primary focus. A well-known interactive story game called "Love Island" is published by the studio, and it is also working on developing new games based on well-known television intellectual properties from around the world.

It operates interactive story games that are powered by intellectual property and are predominantly monetised through in-app purchases, which represented for around 92% of the total sales in the fiscal year that ended in July of 24.

Financial Dynamics of Fusebox

The United States of America, the United Kingdom, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand are among the developed areas that Fusebox principally aims to penetrate.

Thirty people are employed by the company, the majority of them are located in the United Kingdom.A total of INR 87.5 crore ($10.4 million) in sales was recorded by the Fusebox during the fiscal year 23 (CY23), while the company's EBITDA was INR 11.7 crore ($1.4 million).

Year-to-date (YTD) revenues for the company were INR 116.6 crore ($13.9 million) for the fiscal year 24 (CY24), while the company's earnings before interest, taxes, and depreciation (EBITDA) was Rs 33.3 crore (EBITDA of $4.0 million).