Nazara Technologies has announced a significant acquisition deal, acquiring 50% equity in Bluetile Games S.L. and Bestplay Systems S.L. for USD 100.3 million, approximately ₹918 crores. This strategic acquisition aims to strengthen Nazara’s position in the casual and social gaming market.
The acquisition deal includes an upfront consideration where USD 59.7 million will be payable at the first close, and the remaining USD 40.6 million will be settled within six months. Nazara Technologies also retains the option to acquire the remaining 50% by 2028, with the valuation based on 6.6 times the trailing calendar year EBITDA. Up to 25% of this consideration can be settled in equity at Nazara’s discretion.
In addition to the initial acquisition costs, performance-linked earn-outs are part of the deal. These earn-outs, estimated at USD 98.2 million (₹898 crores), are contingent on achieving specific revenue and EBITDA targets for the calendar years 2027 to 2029. The payments for these earn-outs are scheduled between 2028 and 2030, with a substantial portion expected to be funded through the operating cash flows and distributions of the target companies.
The acquisition is subject to customary closing conditions, including shareholder and regulatory approvals in relevant jurisdictions. These include foreign direct investment authorisation in Spain, clearance under the Hart-Scott-Rodino Act in the United States, and merger control approval from the Spanish competition authority (CNMC). The transaction is expected to close upon receipt of these approvals.
Nazara Technologies plans to integrate Bluetile’s diversified portfolio of casual and social games, which includes 17 active games with 375 million downloads and 22 million monthly active users. Bestplay Systems brings a proprietary rewards network that enhances user acquisition and engagement, with 1.2 million monthly installs and 2.2 million monthly active users.
This acquisition aligns with Nazara’s strategy to expand its casual gaming portfolio and leverage AI-native development for scalable growth. The integration of Bluetile and Bestplay is expected to provide a robust platform for user engagement, distribution, and monetisation, enhancing Nazara’s global gaming ecosystem.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).