Netflix is continuing to expand into videogames with the acquisition of mobile game developer Next Games.
The video streaming leader will utilise the developer to bolster its fledgling mobile game efforts, with the company adding games to its service in November 2021.
Netflix has offered a price of €2.1 per share – more than double Next’s closing price of €0.93 on Tuesday – for a total purchase price of €65 million.
Next Games is no stranger to Netflix, and has experience in developing games based on entertainment IP, such as Stranger Things: Puzzle Tales.
Michael Verdu, vice president of games, Netflix, said: “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.”
Teemu Huuhtanen, CEO, Next Games, said: “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.”