Gaming and esports company Nazara Technologies on Thursday announced acquisition of Fusebox Games, an IP-based gaming studio in the United Kingdom, for Rs 228 crore in an all-cash deal.

Fusebox has 30 employees primary based in the UK.

“Nazara Technologies, India’s only publicly listed diversified gaming and sports media company, announced the acquisition of Fusebox Games,” a release said.

Nazara said it will purchase Fusebox for Rs 228 crore in an all-cash transaction.

Fusebox publishes interactive story game Love Island’ and is developing new games based on popular global TV IPs.

For calendar year 2023, the company reported revenue of Rs 87.5 crore with an EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) of Rs 11.7 crore.

“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 our existing IPs are good examples of this strategy and we are happy to join forces with the talented team at Fusebox as we continue to build Nazara into a global gaming company of meaningful scale,” Nitish Mittersain, Founder and CEO of Nazara said.

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