New Delhi, March 18 -- Indian gaming firm Nazara Technologies Ltd will acquire Spain-based Bluetile Games S.L. and BestPlay Systems for a total consideration of around $340 million, including the performance-based payouts.

The company will initially buy a 50% controlling stake in the Barcelona-based gaming companies for $100.3 million, the company said in a regulatory filing on Wednesday. The acquisition will be done through Nazara's UK subsidiary.

The transaction establishes a framework for full ownership, wherein Nazara holds a call option and the selling shareholders retain a put option on the remaining 50% stake. These options are exercisable by 2028.

The valuation for the remaining equity will be calculated at a multiple of 6.6 ti...