Nazara Technologies Limited has announced a major international acquisition through its wholly owned subsidiary, Nazara Technologies UK Limited. The company will acquire a 50 percent controlling stake in Spain-based Bluetile Games S.L. and BestPlay Systems S.L. for a total consideration of $100.3 million (₹918 crore).
The deal marks a significant step in Nazara’s global expansion strategy and strengthens its position in the casual and social gaming market.
Strong gaming portfolio with global reach
Bluetile operates a diversified portfolio of casual and social mobile games with global appeal. Its popular titles include Yatzy, Domino Legends, Mahjong Voyage and Spade Stars. The platform has achieved scale with around 375 million downloads and 22 million monthly active users across 17 live games.
BestPlay complements Bluetile’s portfolio by offering an in-house rewarded engagement platform. It adds another 2.2 million monthly active users and supports player acquisition, retention and cross-promotion across games. Together, the two businesses create an integrated ecosystem of content and distribution.
Financial performance and growth
For the twelve months ending December 2025, Bluetile and BestPlay reported combined revenue of $153.6 million (₹1,405 crore). The combined earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at $27.7 million (₹254 crore).
The companies have shown consistent growth over the past three years. This growth has been driven by expansion of their gaming portfolio and steady execution across multiple international markets.
AI integration at core operations
A key aspect of the acquisition is Bluetile’s use of artificial intelligence across its operations. Artificial intelligence (AI) is embedded in game development, data systems, marketing and live operations. The company uses AI-assisted pipelines to reduce development timelines and improve efficiency.
The leadership team is headed by founder Raymond Stauffer, an MIT alumnus and former Google executive. The team includes professionals with experience at global companies such as Zynga, King, Voodoo, Moonactive and Meta.
Deal structure and future options
Nazara will initially acquire a 50 percent controlling stake in both companies. The agreement includes a call option for Nazara and a corresponding put option for the sellers to buy or sell the remaining stake by 2028. The valuation for this future transaction will be based on 6.6 times trailing EBITDA.
The deal also includes performance-linked earn-outs. These are estimated at $98.2 million and are tied to revenue and EBITDA targets for the period between 2027 and 2029. Payments are scheduled annually from 2028 to 2030.
A large portion of the earn-out is expected to be funded through operating cash flows from Bluetile and BestPlay. Up to 25 percent of each instalment may be paid in listed equity at Nazara’s discretion.
Strategic expansion for Nazara
According to CEO Nitish Mittersain, the acquisition will bring strong capabilities in game development, player engagement and distribution. The integration is expected to create synergies across Nazara’s global gaming platform.
The combined platform aims to accelerate development and scaling of next-generation casual and social games. It will leverage Bluetile’s AI-driven operations, BestPlay’s distribution engine and Nazara’s global publishing and intellectual property ecosystem.
This acquisition positions Nazara to expand its footprint in global markets while strengthening its focus on scalable, AI-enabled gaming businesses.
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