Key Highlights
- Nazara Technologies to acquire 50% controlling stake in Bluelite and BestPlay for USD 100.3 million.
- Combined entities reported USD 153.6 million revenue and USD 27.7 million EBITDA for CY25.
- Transaction includes call and put options for remaining 50% stake by 2028.
- Earn-out component estimated at USD 98.2 million linked to CY2027–2029 performance.
- Bluelite portfolio has 375 million downloads and 22 million monthly active users.
Nazara Technologies Limited has announced the acquisition of a 50% controlling equity stake in Europe-based mobile gaming company Bluelite Games and engagement platform BestPlay Systems for a total consideration of USD 100.3 million (approximately INR 918 crores). The acquisition will be executed through Nazara’s wholly owned subsidiary, Nazara Technologies UK Limited.
The transaction positions Nazara to strengthen its global gaming footprint by integrating AI-driven development, content distribution, and user engagement capabilities into its ecosystem.
Massive Gaming Portfolio Expansion with Global User Base
Bluelite operates a diversified portfolio of casual and social mobile games, including popular titles such as Yatzy, Domino Legends, Mahjong Voyage, and Spade Stars. The platform has achieved global reach with nearly 375 million downloads and approximately 22 million monthly active users across 17 live games.
BestPlay complements this ecosystem through its proprietary rewarded engagement platform, contributing an additional 2.2 million monthly active users. The platform supports user acquisition, retention, and cross-promotion, enhancing monetisation efficiency across gaming portfolios.
The combined platform leverages artificial intelligence across development, marketing, and live operations, enabling faster game production cycles and scalable global distribution.
Strong Financial Performance Backed by Consistent Growth
For the calendar year 2025, Bluelite and BestPlay reported combined revenues of USD 153.6 million (around INR 1,405 crores) and EBITDA of USD 27.7 million (approximately INR 254 crores).
The companies have demonstrated consistent growth over the past three years, driven by portfolio expansion and disciplined execution across international markets.
Detailed Deal Structure with Future Acquisition Roadmap
Nazara will initially acquire a 50% stake, with provisions for acquiring the remaining stake through a call option, while sellers retain a corresponding put option. The final acquisition of the remaining stake is expected by 2028, based on a valuation multiple of 6.6 times trailing EBITDA.
The deal also includes performance-linked earn-outs with a potential payout of USD 98.2 million (around INR 898 crores), contingent on achieving revenue and EBITDA targets between 2027 and 2029. Payments will be made annually from 2028 to 2030.
Additionally, up to 25% of each instalment may be paid in listed equity at Nazara’s discretion, aligning long-term incentives and reducing financial risk.
Strategic Shift Towards AI-Driven Gaming Ecosystem
The acquisition establishes a scalable AI-enabled gaming platform across development, distribution, and publishing. By combining Bluelite’s AI-driven development and live operations capabilities with BestPlay’s engagement platform and Nazara’s global publishing infrastructure, the company aims to accelerate game creation, optimise monetisation, and expand globally.
This move strengthens Nazara’s position in the rapidly evolving casual and social gaming segment, with a focus on building next-generation, AI-integrated gaming ecosystems.
Leadership Commentary Highlights Synergy Potential
Nazara’s management highlighted that the acquisition brings together strong capabilities in game development, player engagement, and global distribution, creating meaningful synergies across its gaming portfolio.
Bluelite’s leadership emphasised that the partnership will enable faster scaling, improved operational efficiency, and enhanced monetisation through access to Nazara’s global platform and strategic expertise.
Future Outlook Driven by AI and Global Scaling Strategy
With increasing adoption of AI in gaming and rising demand for casual and social gaming formats, the acquisition is expected to enhance Nazara’s competitive positioning globally. The integrated platform is likely to drive sustained growth through improved user acquisition, retention, and cross-market expansion.