The UK-based game studio Fusebox Games was purchased by Nazara Technologies, a gaming and sports media company, on Thursday for a cash-only sum of Rs 228 crore ($27.2 million).
Fusebox is creating new games based on well-liked international TV intellectual properties (IPs) and has a hit interactive story game called “Love Island” now available.
The founder and CEO of Nazara, Nitish Mittersain, stated, “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 like implementing our in-house AI playbook.”
Fusebox declared income of Rs 87.5 crore for 2023. The gaming company has shown significant growth in 2024, with year-to-date (YTD) revenues of Rs 116.6 crore (January–July).
The UK-based business creates interactive story games powered by intellectual property that are monetized through in-app purchases, which brought in 92% of total revenue in July.
The main target markets for the games created by Fusebox are industrialized nations such as the US, UK, Australia, Canada, Switzerland, Sweden, Denmark, Norway, and New Zealand.
The organization mostly employs 30 people that are based in the UK. Mittersain continued, “We are excited to collaborate with the brilliant team at Fusebox as we continue to grow Nazara into a significant global gaming company.”
Nazara said last month that it has paid Rs 300 crore to acquire an additional 48.42% of Paper Boat Apps (PBA). Nazara, the company behind NODWIN Gaming, Sportskeeda, and Pro Football Network, announced that it had purchased a 100% ownership position in PBA from entrepreneurs Anupam and Anshu Dhanuka, to be paid in cash over time.
Kiddopia is a gamified learning app created and published by Paper Boat Apps. As of March 2024, Paper Boat Apps had a net cash balance of Rs 155.74 crore, with consolidated sales of crore and EBITDA of Rs 56.1 crore for FY24.
