Nazara Technologies has agreed to acquire Spain-based casual gaming studio Bluetile Games and BestPlay for a fixed cash consideration of $303 million, with $89 million payable at closing and the remaining $214 million due in tranches by April 1, 2027, according to inc42.com. This acquisition comes as Nazara founder Nitish Mittersain prepares to step down as CEO on September 1, 2026.
The deal marks a shift from an earlier plan where Nazara would acquire Bluetile and BestPlay through staggered, performance-linked payouts that could have reached up to 180% of the committed consideration. Under the previous arrangement, existing shareholders were to receive about half of the cash generated by the business. The new structure grants Nazara complete ownership of the cash generated by Bluetile and BestPlay, reflecting a significant strategic commitment.
Bluetile’s revenue increased 54% year-on-year in the first quarter of financial year 2026-27, but its EBITDA remained flat due to rising user acquisition costs, highlighting the company’s focus on revenue growth over near-term profitability. Nazara’s consolidated revenue for the same quarter was ₹429 crore, with a net loss of ₹82 crore, underscoring the financial risks involved in this acquisition. The appointment of Bluetile founder and CEO Raymond Stauffer as Nazara’s new CEO further integrates the acquired businesses into Nazara’s operations.
Nazara’s payment schedule for the acquisition includes an initial $89 million at closing, with the balance $214 million payable in tranches by April 1, 2027, as confirmed by inc42.com. This deal represents a major strategic move for Nazara amid leadership transition and financial challenges.