Nazara Technologies Limited informs the Exchange regarding 'Investor Presentation'.
NAZARA · price
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Nazara Technologies is acquiring Bluetile Games and Bestplay Systems, two Spain-based casual and social gaming companies. Through its UK subsidiary, Nazara will initially buy 50% for USD 100.3 million (about ₹918 crore), with USD 59.7 million paid at first close and the rest within 6 months. It has the option to acquire the remaining 50% by 2028 at 6.6x trailing EBITDA. Additional performance-linked earn-outs of up to USD 98.2 million (about ₹898 crore) may be paid between 2028 and 2030 if CY27–29 revenue and EBITDA targets are met. Bluetile has 17 live games, 375 million downloads, and 22 million monthly active users. Bestplay runs a rewarded engagement platform that helps with user acquisition and cross-promotion. Combined CY25 revenue of the two targets is USD 153.6 million (~₹1,405 crore) with EBITDA of USD 27.7 million (~₹254 crore). The deal is subject to approvals from Spanish FDI authorities, the US Hart-Scott-Rodino Act, and Spain's competition authority (CNMC).
This is a significant expansion into AI-driven casual gaming for Nazara, immediately adding substantial revenue (around 60% of Nazara's scale based on CY25 numbers) and an integrated content plus distribution platform. Shareholders should note that while the upfront cost is largely cash-funded, up to 25% of the consideration can be paid in Nazara equity, meaning some dilution is possible. The phased structure and performance-linked earn-outs help limit downside risk if the targets underperform.