Nazara Technologies, a gaming and sports media company, has purchased Fusebox Games Limited, a game studio based in the UK, for Rs 228 crore ($27.2 million) in a cash-only deal.
Fusebox released an interactive narrative game called ‘Love Island’ and is currently working on creating other games inspired by popular international television intellectual properties. In the fiscal year 2023, the company recorded revenues amounting to Rs 87.5 crore ($10.4 million) and achieved an EBITDA of Rs 11.7 crore ($1.4 million).
In CY24, Fusebox reports significant growth, with year-to-date revenues from January to July 2024 amounting to Rs 116.6 crore ($13.9 million) and an EBITDA of around Rs 33.3 crore ($4 million).
Fusebox generally focuses on developed markets such as the US, the UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand, among other countries. The company employs a total of 30 individuals, with the majority of them located in the United Kingdom.
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Nazara has declared its intention to allocate $100 million for mergers and acquisitions over the next 24 months. Subsequently, it has made investments in Circle of Games and bought Paper Boat Apps, the developer of Kiddopia.
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