Netflix acquires Next Games, a mobile game developer and publisher in Helsinki
OFetflix announced today that it buys The following gamesmobile game developer and publisher in Helsinki.
Netflix would buy Next Games for € 65 million ($ 72 million).
The Board of Directors of Next Games has unanimously decided to recommend the approval of the transaction to the shareholders.
“Next Games has an experienced management team, strong experience in entertainment franchise-based mobile games, and solid operating capabilities,” said Michael Verduvice chairmannt of Games, Netflix.
“We are excited that Next Games will join Netflix as a core studio in a strategic area and key capability market, expanding our in-house gaming studio capabilities.
Founded in 2013 and led by Teemu Huuhtanen, Next Games creates and operates immersive mobile games with a genuine and social fan experience at their core. The company’s strategy is to develop games on popular entertainment IP with fans around the world, including Stranger Things: Puzzle Tales, a story-driven puzzle role-playing game (RPG) inspired by one of Netflix’s most watched series.
The company employed about 120 people at the end of 2021, and its net sales in 2020 were approximately EUR 27.2 million, with 95% of net sales coming from in-game purchases in 2020.
“We have had an unwavering focus on realizing our vision: to become the partner of choice for global entertainment companies and to create authentic and long-lasting interactive entertainment based on the world’s most beloved franchise series,” said Theme HuuhtanenCEO, Next Games.
“Joining forces with the world’s largest streaming service, Netflix, provides an opportunity for a logical and exciting continuation of our strategy to create interactive experiences for the world to enjoy. Our close partnership with Netflix at Stranger Things: Puzzle Tales has already shown that together we build a strong partnership. This is a unique opportunity to raise the studio on all fronts and continue our mission together. “
The transaction is expected to close in the second quarter of 2022 under normal operating conditions.