Nazara Technologies, a BSE listed diversified and sports media company, has acquired Fusebox Games, a United Kingdom based IP-based gaming studio. In its all-cash transaction, Nazara will buy Fusebox for Rs 228 crore US$ 27.2 mn.
Away from this, Fusebox continues to develop new games based on IPs from popular global TV programs. It reported revenues in CY23 to be Rs. 87.5 crore (US$10.4 million) with an EBITDA of Rs. 11.7 crores (US$1.4 million). In CY24, to date, Fusebox is on an impressive growth trajectory with revenues being Rs. 116.6 crores (US$13.9 million) and EBITDA of ~Rs. 33.3 crores (EBITDA of US$4.0 million.
Fusebox operates interactive, IP-driven story games and other genres. The primary monetization technique involves in-app purchases, constituting a share of approximately ~92% of total revenues in YTD July’24. The games target mainly developed markets: the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand, among others. Company has 30 employees based primary in the United Kingdom.
According to Nitish Mittersain, founder and CEO of Nazara, “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. Many of the existing IPs that we have are good examples of this strategy, and we would be more than happy if we joined forces with the talented team at Fusebox, together to continue to build Nazara into a global gaming major of some meaningful scale”.
