Nazara Technologies, India’s only publicly listed gaming and sports media company, has announced the acquisition of UK-based gaming studio Fusebox Games.
What Happened: Nazara Technologies' has acquired the firm for ₹228 crore in an all-cash deal, the company said in a press filing on Thursday. The deal is expected to strengthen Nazara’s global presence in the gaming industry.
Fusebox Games, renowned for its popular interactive story game “Love Island”, is also in the process of developing new games based on popular global TV IPs, Nazara added in the release.
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Fusebox’s games primarily target developed markets including the US, the UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, New Zealand among others. The company has 30 employees primarily based in the United Kingdom.
Nitish Mittersain, Founder & CEO of Nazara, commented on the acquisition, stating, “We see a large opportunity inbuilding 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.”
Price Action: Nazara Technologies was trading 5.30% higher at ₹953.50 on Thursday.
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