The acquisition train continues to roll on in 2022 as Netflix has announced it has acquired mobile game developer, Next Games, for €65 Million (approximately $72,068,750 USD) with the purchase set to close in the second quarter of 2022.
As part of the agreement, Netflix will purchase all issued and outstanding shares with Net Game shareholders receiving €2.1 in cash per share which accumulates to the total purchase price of €65 million. Next Games’ board of directors advises its shareholders to accept the offer.
“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities. 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,” Netflix Vice President of Games, Michael Verdu said in a press release.
Next Games has approximately 120 employees and was founded by Teemu Huuhtanen in 2013. The studio’s strategy is to develop engaging mobile games based on popular IP “with an authentic and social fan experience at the heart.” Netflix and the mobile game developer collaborated with each other in the past, as both companies released Stranger Things: Puzzle Tales on Android and iOS devices last year. Knowing the past relationship, the acquisition isn’t that surprising following its purchase of Oxenfree Developer, Night School Studio from this past September.
“We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises,” Next Games CEO, Teemu Huuhtanen, said in a press release.
“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.”
