Nazara Expands Global Presence with Acquisition of Fusebox.

Nazara Technologies Limited, an Indian gaming company, has announced a major expansion with two significant developments this month. On August 21, 2024, Nazara disclosed plans to invest up to £21.2 million (approximately ₹229.4 crore) in its UK subsidiary to facilitate the acquisition of Fusebox Games Ltd.

The investment will be structured as a share subscription of £4,236,246 (about ₹45.9 crore) and a loan of up to £16,944,985 (approximately ₹183.5 crore). These funds are earmarked for Nazara UK’s acquisition of Fusebox Games Ltd., a deal initially revealed on August 8, 2024.

Both the share subscription and loan agreements were finalized on August 21, 2024. Nazara UK, which was incorporated on July 31, 2024, has yet to start operations. The company noted that these transactions are exempt from related party transaction regulations as they involve a wholly-owned subsidiary.

This announcement follows Nazara’s earlier news on August 8, 2024, that it had been named the “Successful Resolution Applicant” in the Corporate Insolvency Resolution Process for Smaaash Entertainment Private Limited. The Committee of Creditors approved Nazara’s resolution plan for Smaaash, a company currently undergoing insolvency proceedings.

HBL