In a significant move to bolster its international footprint, Nazara Technologies has announced the acquisition of two prominent Spain-based startups, Bluetile Games S.L. and Bestplay Systems S.L. The deal positions Nazara as a more formidable player in the global casual and social gaming markets.
Under the terms of the agreement, Nazara will initially acquire a 50% stake in both entities for a total consideration of $100.3 million (approx. ₹918 crore). The payment structure includes an immediate $59.7 million at closing, with the balance due within six months. Nazara retains the option to acquire the remaining 50% stake by 2028, with the valuation pegged at 6.6x trailing EBITDA.
Scaling the Casual Gaming Portfolio
The acquisition brings a massive user base and a diverse catalog of titles under the Nazara umbrella. Bluetile Games currently manages 17 live titles, including popular games like Yatzy, Domino Legends, and Mahjong Voyage. The studio’s reach is extensive, boasting:
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375 million lifetime downloads.
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22 million monthly active users (MAUs).
Complementing the game development side, Bestplay Systems provides a rewards-based engagement platform. This technology is designed to optimize user acquisition, retention, and cross-promotion—tools that Nazara likely intends to leverage across its broader gaming ecosystem.
Strong Financial Performance
The combined Spanish entities enter the Nazara fold with a robust balance sheet. For the 2024-2025 calendar year, the two companies reported:
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Revenue: $153.6 million (approx. ₹1,405 crore)
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EBITDA: $27.7 million (approx. ₹254 crore)
To incentivize future growth, the deal includes performance-linked earnouts of up to $98.2 million, payable between 2028 and 2030 based on the companies’ continued success.
This acquisition marks one of Nazara’s most aggressive expansion moves to date, signaling a clear shift toward capturing the high-growth casual gaming demographic on a global scale.
By: Sandhya Bharti
