Netflix has announced its plans to buy Next Games, a developer and publisher of mobile games based in Helsinki, Finland. Interestingly, the deal comes at a time when Netflix is developing a mobile gaming service to complement its normal subscription service.
For Mike Verdu, Netflix’s Vice President, Games, it’s all about helping the company to “build a library of great games for our members to enjoy.” Verdu explained that Next Games “specialises in mobile games based on popular entertainment franchises like Stranger Things: Puzzle Tales, the story-driven puzzle RPG (role-playing game) inspired by one of our most watched series.”
Netflix introduced its gaming platform in 2021, and its available in iOS and Android. Netflix Games comes with a handful of mobile games that are accessible for Netflix customers to download for free from app stores, with no advertisements or in-app purchases.
Also, in his address, Verdu added that this is first step into gaming for his organisation. “I am certain that together with Next Games we will be able to establish a portfolio of world-class games that will excite our members throughout the world.”
Till date, Netflix has had its partners develop games for its gaming platform. For instance, the Stranger Things franchise — Stranger Things: 1984 and the Stranger Things 3: The Game, are noted to be products of BonusXP Game Studio.
In addition, the company has licensed the pre-existing game Asphalt Xtreme granting exclusive access to its subscribers. After purchasing Next Games and Night School Studio last year, it appears that the streaming behemoth is expecting to develop additional titles for its service in-house in the future.
As Netflix moves forward with the new deal, it’s looking to Next Games and Night School Studio (which it acquired in 2021) producing more original content for its service.
Furthermore, Next Games’ board of directors has recommended that shareholders accept Netflix’s offer of €65 million (which is, approximately $72 million). According to Reuters’ calculations, the offer is worth €2.1 in cash per share, which is more than double its €0.93 closing price on Thursday.
The transaction is expected to be completed in the second quarter of 2022.
