Netflix has invested heavily in the gaming industry to expand its business opportunities. In a new development, the company has offered to acquire Finnish mobile game developer Next Games. The company’s Vice President of Games, Micheal Verdu, said in a publicly released statement, “We are excited to have Next Games join Netflix as a core studio in a strategic region and important talent market, expanding our internal game studio capabilities.” Also Read – Russia-Ukraine War: Disney, Warner, Sony Pause Movie Releases Including The Batman In Russia
Following the public announcement of the news, Next Games’ shares on the Nordic First North Stock Exchange rose 119 percent to 2.04 euros (about 170 rupees). Also Read – Russia-Ukraine War: Netflix Refuses to Air State Channels in Russia Despite Regulations
As part of the deal, Netflix intends to acquire Next Games for 65 million euros (approx. According to the deal, Netflix would acquire the company for 2.1 euros (approx. Rs 180) per share. Also Read- Netflix Releases March 2022: Bridgerton Season 2, The Adam Project, and More
The companies have announced that they expect to close the transaction by the end of June 2022.
The free-to-play mobile games publisher has already partnered with Netflix to release games based on the streaming giant’s key attributes like Stranger Things and The Walking Dead. This deal will help Netflix get more involved in the development process than just licensing the brands.
Next Games had 120 employees at the end of 2021 and announced a turnover of 27.2 million euros in the last annual results.
Teemu Huuhtanen, CEO of Next Games, said: “Working with Netflix, the world’s largest streaming service, provides an opportunity for a logical and exciting continuation of our strategy of creating interactive experiences for the whole world. Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we form a strong partnership. This is a unique opportunity to improve the studio on all fronts and continue our mission together.”