Nazara acquires UK-based Fusebox Games for $27.2 million

• Nazara recently outlined their intention to spend a $100 million warchest in their pursuit of a $10 billion valuation
• Fusebox is the publisher of interactive story games, its flagship title being the popular Love Island game, based on the hit TV series

Only days after hinting that further investment might be just around the corner, today India-based Nazara Technologies Limited has announced the acquisition of the UK’s Fusebox Games Limited.

As India’s only publicly listed diversified gaming and sports media company, it recently outlined intentions to spend a $100 million war chest in pursuit of a $10 billion valuation. It seems that spending has now started in earnest.

Nazara will purchase Fusebox for $27.2 million in an all-cash transaction.

Fusebox is the publisher of interactive story games, its flagship title being the popular Love Island game, based on the hit TV series.

The company is in the process of developing similar new games also based on popular global TV IPs. So far its games have proven hits in the US, UK, Australia and Canada, Switzerland, Sweden, Denmark, Norway, New Zealand and the company currently employs 30 staff primarily based in the United Kingdom.

A winning strategy 

Fusebox’s strategy of sticking close to established media for TV spinoffs is clearly working. In 2023 the company reported revenue of $10.4 million with an EBITDA of $1.4 million. In 2024 revenue has grown with a year-to-date January-to-July figure of $13.9 million with an EBITDA of $4.0 million.

92% of the company’s total revenues in that year-to-date came from in-app purchases.

Nitish Mittersain, founder and CEO of Nazara said: “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 IP’s 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”

Building outward and upward

Nazara has majority ownership of several leading gaming and esports brands with presence in India, the US, and other global markets. In esports, Nazara has India’s leading esports platform NODWIN Gaming and Sportskeeda/Pro Football Network in the sports media space. 

So far, Nazara’s offerings in interactive gaming include gamified early learning ecosystems like Kiddopia and Animal Jam, India’s most popular cricket simulation franchise, World Cricket Championship (WCC), and a wide portfolio of casual games distributed through telco partnerships in many emerging markets.

CEO Nitish Mittersain spelt out Nazara's strategy exclusively to PocketGamer.biz earlier this week.