Mumbai, Aug 8 (SocialNews.XYZ) Gaming and sports media company Nazara Technologies on Thursday said it has acquired Fusebox Games, a UK-based gaming studio, for Rs 228 crore ($27.2 million) in an all-cash deal.
Fusebox offers a successful interactive story game ‘Love Island’ and is developing new games based on popular global TV Intellectual properties (IPs).
“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 and CEO of Nazara.
In 2023, Fusebox reported Rs 87.5 crore in revenue. In 2024, the gaming company has demonstrated strong growth with year-to-date (YTD) revenues (January-July) at Rs 116.6 crore.
The UK-based company operates IP-driven interactive story games that are monetised through in-app purchases, which accounted for 92 per cent of the total revenues in July.
The games developed by Fusebox primarily target developed markets including the US, the UK, Australia and Canada, Switzerland, Sweden, Denmark, Norway and New Zealand, among others.
The company has 30 employees primary based in the UK. “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.
Last month, Nazara announced the acquisition of additional 48.42 per cent stake in Paper Boat Apps (PBA) for Rs 300 crore. Nazara, which owns NODWIN Gaming, Sportskeeda and Pro Football Network, said that it acquired the stake from promoters Anupam and Anshu Dhanuka, to be paid in cash in tranches to take its ownership in PBA to 100 per cent.
Paper Boat Apps is the developer and publisher of gamified learning app ‘Kiddopia’. Paper Boat Apps posted a consolidated revenue of crore and an EBITDA of Rs 56.1 crore in FY24, with a net cash balance of Rs 155.74 crore (as of March 2024).
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz