Netflix Acquiring Finnish Mobile Game Developer for $72 Million
March 2, 2022
Netflix continues to ratchet up its video game presence, announcing March 2 that it entered into a combination agreement to acquire Finland-based publisher Next Games in a cash offer worth about $72 million. The company is no stranger to Netflix having partnered for the streamer’s Stranger Things: Puzzle Tales mobile game based on the platform’s popular original series.
“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities,” Michael Verdu, VP of games at Netflix, said in a statement.
Verdu next the publisher would join Netflix as a “core studio” in a strategic region and key talent market to help expand the streamer’s internal game studio capabilities.
Subscribe HERE to the FREE Media Play News Daily Newsletter!
“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,” he said.
Founded in 2013 and led by CEO Teemu Huuhtanen, Next Games had approximately 120 employees at the end of 2021 and reported sales of approximately €27.2 million ($30 million) in 2020, with 95% of revenue generated from in-game purchases.
“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,” Huuhtanen said. “This is a unique opportunity to level-up the studio on all fronts and continue on our mission together.”