Friday, 9 August 2024, Bengaluru, India
UK-based Gaming startup Fusebox Games Limited was acquired for $27.2 million by the Gaming and sports company, Nazara Technologies. The company signed an agreement to buy its stakes in the startup through all cash transactions. This investment will enable both gaming companies to combine their technologies and improve gaming compatibility with technology while expanding their network globally.
Fusebox Gaming is a gaming startup that offers services for esports and gaming platforms. The company launched an interactive story game called Love Island and is working on new games based on popular global TV Ips. The startup aims to spread its services in developed markets such as the US, Australia, the UK, Sweden, Canada, Denmark, Switzerland, and New Zealand. The gaming startup currently has around 30 employees in its UK office. The acquisition will help Nazara Technologies to enhance its capability by integrating Fusebox gaming’s clients, technology, network, and experience. Nazara received a letter of intent to acquire Smaash, a sports entertainment company. Earlier this year, Nazara announced its plans to invest around 100 million USD in merging and acquisition within the next two years.
Nazara has invested this amount in Circle of Games and has acquired various companies through its subsidiaries including Games 24×7, Deltias Gaming, and Kiddopia developer Paper Boat Apps. Nodwin also acquired a 13.51 percent stake in the German gaming startup Freaks 4U in January this year. The company focuses on merging businesses and bringing their technologies and solutions together. After this deal, the companies will have more innovative gaming solutions, increased technical skills, and more workforce. Fusebox Gaming Limited faces competition from other gaming platforms such as Otherworld and Dazn.
The gaming startup reported a revenue of $10.4 million with an EBITDA of $1.4 million in CY23. The company saw strong growth in its year-to-date revenue at $13.9 million with EBITDA at $4 million for CY24. Nazara announced a profit of R 17.8 crore in its revenue of Rs 254.43 for the first quarter of FY25. Nazara reported a 4.3 percent increase in its operational revenue to Rs 1,138 crore in FY24. The company controlled its expenses which helped it to post a 23 percent increase in its profit to Rs 75 crore in the same duration. The company acquired Fusebox Gaming to strengthen its technologies and offer more powerful gaming solutions to its customers.
Conclusion:
Nazara Technologies acquired a gaming startup Fusebox Games Limited for $27.2 million. The acquisition is made by Nazara to strengthen its technology and generate more innovative gaming solutions. This investment is an initiative to merge both gaming companies to improve gaming compatibility and technology while scaling up. Fusebox Games published a story game called Love Island and is currently developing new games on global TV Ips. The gaming startup focuses on expanding its services in developed markets including Australia, the UK, Sweden, Canada, the US, Switzerland, and New Zealand. This acquisition is part of a $100 million investment plan made by Nazara Technologies to merge and acquire various gaming companies in the next two years.
