Level Up: Nazara Buys UK’s Fusebox Games for ₹234 Cr

Gaming is going global, and India's Nazara Technologies is leading the charge. In a strategic all-cash deal announced this week, the diversified gaming and sports media company has acquired UK-based Fusebox Games for ₹234 Crore ($27.2M).

This isn't just another acquisition; it's a play for high-value IP. Fusebox is best known for its interactive story game based on the hit reality TV show Love Island. By acquiring the studio, Nazara gains an immediate foothold in the lucrative "Interactive Fiction" genre popular in the US and Europe.

The "Buy & Build" Strategy

Nitish Mittersain, Nazara's founder, has been clear about his strategy: acquire profitable gaming studios with strong IP. Fusebox fits this perfectly. In CY23, the UK studio reported revenues of ₹87.5 Cr with an EBITDA of ₹11.7 Cr.

This deal adds to Nazara's diverse portfolio, which already includes NODWIN Gaming (eSports), Sportskeeda (Media), and Paper Boat Apps (Kiddopia).

"We see a large opportunity in building an IP-based global gaming business... 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 & CEO

Why Interactive Fiction?

The genre of "interactive fiction"—where players make choices that affect the story outcome—has high retention and monetization rates, especially in developed markets. By buying Fusebox, Nazara isn't just buying a game; they are buying a monetization engine that generates revenue in GBP and USD, providing a hedge against rupee volatility.

FounderStory Takeaway

While many Indian startups are focused on "Building for Bharat," Nazara is proving that Indian capital can buy global assets. This acquisition reinforces the maturity of the Indian gaming ecosystem—moving from back-office development to owning the IP outright.