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Buka was founded in 1993, and the name loosely translates as "Bogey". In its early years Buka was in the business of selling gaming consoles - Sega, Nintendo, and Sony. In 1996 the company published its first game - Russian Roulette - which sold 15,000 copies in the CIS Countries. Two more games were published the following year Allods - Better known in the west as Rage of the Mages - and Vangers - Vangers - One for the Road. Buka was the first publisher to start selling games in "jewel cases" in CIS Countries; this was then picked up by other Russian publishers and later became standard practise.

On the 17th of July, 2008, Buka was purchased by 1C Company for a rumoured $50-80 million.

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