Mumbai: Nazara Technologies has announced that its wholly owned subsidiary, Nazara Technologies UK Limited, has signed definitive agreements to acquire a 50% controlling stake in Bluetile Games S.L. and BestPlay Systems S.L. for a consideration of USD 100.3 million (~₹918 crores).
The acquisition strengthens Nazara Technologies’ position in the global gaming ecosystem, particularly in AI-driven gaming platforms.
Business Overview
Bluetile Games S.L. operates a diversified portfolio of globally popular casual and social mobile games, including titles such as Yatzy, Domino Legends, Mahjong Voyage, and Spade Stars.
The platform has scaled globally, achieving nearly 375 million downloads and 22 million monthly active users across 17 live games.
BestPlay Systems S.L. complements this portfolio through its in-house rewarded engagement platform, contributing an additional 2.2 million monthly active users.
It functions as a built-in engine for player acquisition, retention, and cross-promotion across the gaming ecosystem.
Together, Bluetile Games and BestPlay Systems combine content and distribution capabilities, supported by continuous optimisation and live operations, enabling scalable and resilient operations across global markets.
The integration of artificial intelligence across game development, data infrastructure, marketing, and live operations has enabled the platform to compress development cycles through AI-assisted pipelines.
The company is led by Raymond Stauffer, an MIT alumnus and former Google executive, along with a leadership team experienced across global gaming and technology companies including Zynga, King, Voodoo, Moonactive, and Meta.
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Financial Highlights
For the twelve months ended December 2025 (CY25), Bluetile Games and BestPlay Systems reported:
- Revenue of USD 153.6 million (~₹1,405 crores)
- EBITDA of USD 27.7 million (~₹254 crores)
The combined business has demonstrated strong growth over the past three years, scaling both revenue and profitability through portfolio expansion and disciplined global execution.
Transaction Structure
Under the agreement, Nazara Technologies will initially acquire a 50% controlling equity stake in both Bluetile and BestPlay. The deal also includes:
- A call option for Nazara and a corresponding put option for sellers to acquire or sell the remaining ~50% stake by 2028
- Valuation pegged at 6.6x trailing calendar year EBITDA
- Performance-linked earn-outs with a most probable payout of USD 98.2 million (~₹898 crores)
The earn-outs are contingent on achieving agreed revenue and EBITDA targets for CY2027–2029 and will be payable annually from 2028 to 2030.
A significant portion of the contingent consideration is expected to be funded through operating cash flows and distributions, with up to 25% of each instalment payable in listed equity at Nazara’s discretion.
Nitish Mittersain, CEO, Nazara Technologies, said: “Nazara UK’s acquisition of Bluetile Games and BestPlay Systems brings proven strengths across game development, player engagement and distribution, and will add meaningful synergies to our global gaming platform.
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 marks an important step in our strategy to build AI-enabled, globally scalable gaming businesses. We are excited to welcome Raymond and his team to the Nazara family.”
Raymond Stauffer, General Manager, Bluetile Games, said: “Joining Nazara is a natural next step for Bluetile. Over the past several years, we’ve built a platform where technology and AI play a central role in helping us develop and scale games faster, stay lean operationally, and maximize user monetization.
Nazara brings global scale, capital and strategic expertise that will allow us to accelerate growth and expand our portfolio worldwide.”
Also Read: Nazara Technologies Acquires UK-Based Curve Games for INR 247 Crore
Strategic Significance
The acquisition positions Nazara Technologies to build a scalable platform for AI-enabled game development, distribution, and publishing across its global portfolio.
By integrating Bluetile’s AI-driven capabilities with BestPlay’s engagement and distribution engine, alongside Nazara’s global publishing and IP ecosystem, the partnership is expected to accelerate the creation, optimisation, and global scaling of next-generation casual and social gaming titles.
About the Companies: Bluetile Games and BestPlay Systems
Bluetile Games: A Europe-based mobile gaming company focused on casual, social puzzle, and word games, operating a globally distributed portfolio powered by an AI-driven platform.
BestPlay Systems: A proprietary rewarded engagement platform enabling game discovery, user acquisition, retention, and cross-promotion across mobile gaming ecosystems.
