Netflix acquires Stranger Things’ mobile game
The cash transaction will be worth $72 million (65 million euros), or $2.33 per share (2.10 euros). The Finnish studio is behind a mobile game based on Netflix’s hit show “Stranger Things.”
• This is Netflix’s second gaming acquisition
• The company wants to extend its streaming business into the world of gaming
In its second video game acquisition, Netflix (NASDAQ: NFLX) plans to buy mobile games developer, Next Games, based in Finland.
The cash transaction will be worth $72 million (65 million euros), or $2.33 per share (2.10 euros). The Finnish studio is behind a mobile game based on Netflix’s hit show “Stranger Things.”
The deal is expected to close in the second quarter of 2022.
Next Games was founded in 2013 and developed a mobile role-playing game called “Stranger Things: Puzzle Tales,”.
Netflix’s video gaming ambitions
Netflix aspires to make video games an important extension of its online streaming business.
Last year it acquired its first game developer, Night School Studio in September. The company hired Mike Verdu as president of games development and introduced its first five mobile titles in November.
“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,” Verdu said in a statement on Wednesday.
(Inputs from CNBC)
