Today, the American subscription streaming service and production company, Netflix has announced the acquisition of the next Finnish mobile game developer worth €65 million Euros, which is expected to be completed in the second quarter of 2022.
Netflix is ready to launch a tender offer to buy all of Next Games’ issued and outstanding shares under the terms of the agreement. Next Games shareholders will get 2.10 Euros per share in cash as part of the offer, for a total value of around 65 million Euros. The board of directors of Next Games has unanimously resolved to advise shareholders to accept the tender offer.
Netflix is an OTT service provider based in the United States that offers internet video on demand in a variety of countries. Netflix also offers a single-rate mail-in DVD rental service in the United States, which sends DVDs and Blu-ray rental discs to customers through return envelopes.
Netflix’s stock closed at $386.24 a share yesterday, valuing the company at $171.476 billion.
Speaking about the acquisition the vice president of gaming at Netflix, Michael Verdu, said: “Next Games has an experienced management team with a strong track record in mobile gaming and strong operational capabilities,”
“We are delighted to have Next Games join Netflix as a strategic regional and key player A core studio for the talent market, expanding the capabilities of our in-house game studio. While our games are just getting started, I believe that together with Next Games, we will be able to build a world-class portfolio of games that will delight our members around the world.” He added.
Next Games, founded in 2013 and led by Teemu Huuhtanen, creates and operates compelling mobile games with a focus on an authentic and social fan experience.
Stranger Things: Puzzle Tales, a story-driven puzzle role-playing game (RPG) inspired by one of Netflix’s most popular series, is part of the company’s plan to develop games based on popular entertainment IP with global followers.
At the end of 2021, the company had roughly 120 workers and recorded sales of EUR 27.2 million in 2020, with 95 percent of income coming from in-game purchases.
However, in his own reaction the Chief Executive Officer, Next Games, Teemu Huuhtanen, said: “Joining forces with Netflix, the world’s largest streaming service, is a logical and exciting extension of our plan to create interactive experiences for the globe to enjoy.
Our close collaboration on Stranger Things: Puzzle Tales with Netflix has already demonstrated that we make a powerful team. This is a once-in-a-lifetime opportunity to improve the studio on all fronts and continue on our shared mission.