Netflix announced in a press release today that they plan to acquire Finnish mobile game developer, Next Games. The acquisition is not a huge surprise considering Netflix’s known desires to venture further into gaming and the fact that Next Games previously developed Stranger Things: Puzzle Tales.
The two companies have agreed “Netflix will commence a tender offer process to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders would receive EUR 2.10in cash per share of Next Games, for a total value of approximately EUR 65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.” For reference, €65 million is roughly $72 million USD. Netflix is not messing around with its gaming aspirations.
Vice President of Games at Netflix, Michael Verdu said on the acquisition, “Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities.” Adding, “We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world-class games that will delight our members around the world.”
Next Games was originally founded in 2013 and has focused on developing mobile games based on popular entertainment IP, hence their Stranger Things game. Considering Netflix is nothing if not a great source of popular entertainment franchises, the acquisition makes a lot of sense. Next Games CEO Teemu Huuhtanen said on the fitting match, “Joining forces with the world’s largest streaming service, Netflix, presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy. Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we create a strong partnership. This is a unique opportunity to level up the studio on all fronts and continue on our mission together.”