Nazara buys 50% stake in Spanish gaming firms for $100M
What's the story
Nazara Technologies has announced its acquisition of two Spain-based casual and social gaming start-ups, Bluetile Games and Bestplay Systems. The move is part of Nazara's strategy to strengthen its foothold in the international casual and social gaming market. The company will initially acquire a 50% stake in both firms for $100.3 million (around ₹918 crore), with $59.7 million payable at closing and the rest within six months.
Deal details
Deal includes performance-linked earnouts
The deal also includes performance-linked earnouts of up to $98.2 million, payable between 2028 and 2030. Nazara can acquire the remaining stake by 2028 at a valuation linked to 6.6x trailing EBITDA. Bluetile has a portfolio of casual and social mobile games across formats such as puzzles and tile-based games with titles like Yatzy, Domino Legends, and Mahjong Voyage.
Platform features
Bestplay runs rewards-based engagement platform
Bestplay, on the other hand, runs a rewards-based engagement platform that aids user acquisition, retention, and cross-promotion across mobile games. The combined entities have reported revenue of $153.6 million (around ₹1,405 crore) and EBITDA of $27.7 million (around ₹254 crore) for calendar year 2025. This acquisition will help Nazara establish a scalable platform for AI-enabled game development, distribution and publishing across its global gaming portfolio.
AI integration
AI at core of operations
Nazara Technologies' founder Nitish Mittersain stressed the importance of artificial intelligence (AI) in the acquisition. He said, "The team has embedded AI at the core of its operations — not just as a tool, but as a competitive advantage across development, marketing and live operations." This acquisition is an important step toward building AI-enabled, globally scalable gaming businesses.