Nazara Strengthens Global Foothold with Fusebox Games Acquisition

Nazara Technologies Limited, a prominent Indian gaming company, is set to broaden its global reach with the acquisition of UK-based Fusebox Games Ltd. In a significant move announced on August 21, 2024, Nazara revealed plans to invest up to £21.2 million (approximately ₹229.4 crore) in its UK subsidiary to facilitate the acquisition.

The investment will be executed through a share subscription of £4.24 million (around ₹45.9 crore) and a loan of up to £16.94 million (approximately ₹183.5 crore). This financial boost will enable Nazara UK to complete the acquisition of Fusebox Games Ltd., a deal initially disclosed on August 8, 2024. The acquisition is a strategic step for Nazara, enhancing its presence in the global gaming market.

Nazara UK, incorporated on July 31, 2024, is a wholly-owned subsidiary that is yet to commence operations. The transactions involving the share subscription and loan agreements were finalized on August 21, 2024. Since these deals involve a wholly-owned subsidiary, they are exempt from related party transaction regulations, ensuring a smooth and compliant process.

This acquisition follows Nazara's recent success in being named the "Successful Resolution Applicant" in the Corporate Insolvency Resolution Process for Smaaash Entertainment Private Limited. Nazara’s resolution plan for Smaaash was approved by the Committee of Creditors, further solidifying the company’s strategic expansion efforts.

With the acquisition of Fusebox Games and the successful bid for Smaaash, Nazara is poised to significantly enhance its global presence, reinforcing its position as a leading player in the gaming industry.

News by Rahul Yelligetti