By Sagar V. Mankar In a strategic move to expand its global footprint, India-based Nazara Technologies Limited has officially acquired UK-based Fusebox Games Limited for $27.2 million in an all-cash deal. This acquisition marks the beginning of Nazara’s aggressive investment strategy, aimed at reaching a $10 billion valuation.
Who is Fusebox Games?
Fusebox Games is renowned for developing interactive story-based games, with its flagship title being the popular Love Island game, inspired by the hit reality TV series. The company is actively working on new titles based on globally recognized TV franchises. Its games have performed exceptionally well in key markets, including the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand. Currently, Fusebox operates with a team of 30 employees, primarily based in the UK.
Fusebox’s approach of leveraging established TV show IPs has proven profitable. In 2023, the company reported $10.4 million in revenue and an EBITDA of $1.4 million. This growth continued into 2024, with revenue hitting $13.9 million and EBITDA rising to $4 million by July. Notably, 92% of this revenue stemmed from in-app purchases.
Expanding Horizons with Acquisitions
Nazara has been actively acquiring companies to strengthen its portfolio. Subsidiaries like NODWIN Gaming and Sportskeeda have cemented Nazara’s presence in esports and sports media. Additionally, Nazara owns Kiddopia, Animal Jam, and a portfolio of casual games distributed through telecom partnerships.
In parallel, Nazara’s subsidiary, Absolute Sports, recently acquired the assets of US-based Deltias Gaming for $900,000. This move is expected to enhance Absolute Sports’ gaming content reach to over 5 million US enthusiasts.
Looking Ahead
With a war chest of $100 million for mergers and acquisitions, Nazara remains focused on established IPs, AI, and emerging technologies like Web3 and VR. Nitish Mittersain, Founder and CEO of Nazara Technologies envisions Nazara as a $10 billion company in the next five years.
“This is just the beginning. As opportunities arise, our investment strategy will grow even further,” he concluded.
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