The subsidiary of Nazara Technologies, Nazara UK acquired the London-based gaming startup Fusebox Games Limited for Rs 234.55 crore. Last week, the company signed an agreement with existing shareholders to buy its stakes in the startup through all cash transactions. This investment will enable the gaming companies to combine their clients, and technologies while improving their gaming compatibility with technology and expanding their network globally.
Fusebox Gaming offers an online platform for esports and gaming. The company released an interactive story game called Love Island and is working on new games based on popular global TV Ips. The CEO and founder of Nazara, Nitish Mittersain mentioned that the company is focused on building IP-based games. This will benefit from its huge user base in India where global studios can be supported with data analytics, AI solutions, Live operations, and acquisition strategies. Inc42 reported. The deal will help Nazara Technologies enhance its gaming capability by integrating Fusebox Gaming’s clients, technology, network, and approach. Nazara UK now holds a 100 percent share in the gaming firm. The regulatory filing mentioned that Fusebox has now become the wholly-owned subsidiary of Nazara UK. Nazara recently announced its plans to invest 100 million USD in merging and acquisition within the next two years.
Nazara also invested in Circle of Games and has acquired various gaming companies through its subsidiaries including Games 24×7, Kiddopia developer Paper Boat Apps, and Deltias Gaming. The company is focused on merging businesses and combining their technologies and solutions. After this deal, the companies will have more innovative gaming solutions, increased technical skills, and more workforce. The company acquired Fusebox Gaming to strengthen its presence in the gaming industry while developing more powerful gaming solutions for its customers.
The development came when Nazara Technologies was working on expanding its business by strategic acquisitions in the gaming sector. Fusebox Gaming Limited competes with other gaming platforms such as Dazn, and Otherworld. Nazara reported a revenue of Rs 254.4 with a profit of Rs 17.8 crore for the first quarter of FY25. Fusebox Gaming announced revenue of Rs 87.5 crore with an EBITDA of Rs 11.7 crore for the first quarter of CY23. The firm saw a revenue of Rs 116.6 crore with an EBITDA of Rs 33.3 crore in the first half of FY24.
Conclusion:
Nazara UK acquired a gaming startup Fusebox Games Limited for Rs 234.55 crore. The acquisition came after the company signed a deal with existing shareholders to buy stakes in the gaming company. This is an initiative by Nazara Technologies to strengthen its technology and generate more innovative gaming solutions. After this round, the company holds a 100 percent stake in the startup. This investment allowed Nazara to merge technologies and clients of both gaming companies to improve gaming compatibility. The company announced its plan to use around 100 million USD to merge and acquire various gaming companies in the next two years. The Fusebox gaming startup focuses on expanding its network in developed markets including Australia, the UK, Canada, Sweden, the US, and New Zealand.
