Overview
- Nazara signed definitive agreements on March 18, 2026, with completion targeted within six months subject to FDI, Spanish merger control and U.S. HSR clearance.
- The consideration totals $100.3 million, with $59.7 million due at first close and $40.6 million within six months, allocating $88.4 million to Bluetile and $11.9 million to BestPlay.
- The deal includes performance-linked earn-outs of up to $98.2 million tied to 2027–2029 targets, with payouts scheduled between 2028 and 2030.
- Nazara holds a 2028 call option, with a corresponding seller put, to acquire the remaining 50% at 6.6x trailing EBITDA, and it will secure control initially through governance rights.
- Bluetile runs 17 live casual and social mobile games with about 375 million downloads and 22 million monthly active users, while BestPlay has roughly 2.2 million monthly active users; combined 2025 revenue was $153.6 million with EBITDA of $27.7 million.