Presentation on Curve Games Acquisition Update

Key insights

7 takeaways

01
Nazara acquired 100% equity of Curve Digital Entertainment for an equity value of INR 247 crores (GBP 21.7 million) in an all-cash deal.See it on page 8
02
Curve reported revenue of GBP 29.9 million in CY22, GBP 26.5 million in CY23, and GBP 24.4 million in CY24.See it on page 8
03
Curve's profit before tax was GBP 4.6 million in CY24, up from GBP 1.3 million in CY23 and GBP 1.5 million in CY22.See it on page 8
04
The FTK franchise has sold over 4 million units.See it on page 4
05
Curve owns two development studios: Iron Oak, acquired in CY2020 and known for For The King, and Runner Duck, acquired in CY2019 and creator of the Crew franchise.See it on page 3
06
Curve employed 55 people as of December 2024, with 33 in CDP, 18 in IOK, and 4 in RDL, plus 3 contractors.See it on page 3
07
Nazara's CEO said the acquisition brings Curve's PC and console publishing expertise as Nazara expands beyond mobile into cross-platform gaming.See it on page 8

Summary

Nazara Technologies Limited filed a May 20, 2025 disclosure with BSE Limited and the National Stock Exchange of India, under Regulation 30 of SEBI's listing rules, enclosing a presentation on its acquisition of UK-based Curve Games. Curve is a London-based video game publisher focused on console and PC platforms including PlayStation, Xbox, Steam, and Switch. As of December 2024 it employed 55 people (33 in CDP, 18 in IOK, and 4 in RDL) plus 3 contractors, with operations primarily in the UK and Canada. It owns two development studios: Iron Oak, acquired in CY2020, known for For The King, and Runner Duck, acquired in CY2019, creator of the Crew franchise. The acquisition is for 100% equity of Curve Digital Entertainment at an equity value of INR 247 crores (GBP 21.7 million), in an all-cash deal. Historical financials show revenue of GBP 29.9 million in CY22, 26.5 million in CY23, and 24.4 million in CY24, with EBITDA of 10.9, 10.9, and 10.6 million and profit before tax of 1.5, 1.3, and 4.6 million over the same years.