Nazara Technologies, via its UK subsidiary, has entered into definitive agreements to acquire a 50% controlling interest in two Spanish gaming entities, Bluetile Games and BestPlay Systems.
The acquisition aims to integrate Bluetile’s casual gaming portfolio with BestPlay’s proprietary rewarded engagement technology. According to regulatory filings, the deal is centered on scaling “AI-led” gaming operations. Bluetile, a Barcelona-based studio, currently operates 17 live titles and has reported over 375 million lifetime downloads.
BestPlay Systems provides the underlying distribution architecture, utilizing a rewarded model to drive user acquisition. The two companies reported combined revenues of $153.6 million and an EBITDA of $27.7 million for the 2025 calendar year.
“Nazara UK’s acquisition of Bluetile and BestPlay 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.”
Nazara Technologies CEO Nitish Mittersain
“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 maximise user monetisation.
Nazara brings global scale, capital and strategic expertise that will allow us to accelerate growth and expand our portfolio worldwide.”
Bluetile Games General Manager Raymond Stauffer
Transaction Structure and Future Obligations
The deal includes a multi-year payout structure and options for full ownership:
- Cash Consideration: Nazara will pay $59.7 million at the first close, with $40.6 million deferred for six months.
- Earn-outs: Potential additional payments of $98.2 million are tied to EBITDA and revenue benchmarks between 2027 and 2029.
- Full Acquisition Path: Nazara retains a call option to purchase the remaining 50% stake by 2028 at a valuation of 6.6x the trailing EBITDA.
This move follows Nazara’s 2025 acquisition of Curve Games, signaling a continued aggressive expansion into Western markets and the casual gaming segment.
