Netflix on Wednesday announced that it will acquire Finland-based Next Games for $72 million.
Next Games is the developer of hugely popular Stranger Things and Walking Dead games.
Next Games’ strategy is to develop games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role-playing game (RPG) inspired by one of Netflix’s most-watched series.
The company had approximately 120 employees at the end of 2021 and reported sales of approximately 27.2 million euros in 2020, with 95 percent of revenues generated from in-game purchases.
The transaction is expected to close in the second quarter of 2022.
“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities,” said Michael Verdu, Vice President of Games, Netflix.
“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 in a statement.
“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,” said Huuhtanen, CEO, Next Games.