Netflix acquires ‘Stranger Things’ game publisher Next Games for €65 million

The acquisition of the Finland-based company comes as Netflix plans to expand beyond its entertainment offerings and improve its mobile gaming experience.

Netflix has agreed to buy Next Games, a mobile game developer and publisher, specialising in games based on entertainment franchises, for €65 million.

(Sign up to our Technology newsletter, Today’s Cache, for insights on emerging themes at the intersection of technology, business and policy. Click here to subscribe for free.)

The acquisition of the Finland-based company comes as Netflix plans to expand beyond its entertainment offerings and improve its mobile gaming experience, which the streaming giant announced late last year.

“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,” Michael Verdu, VP of Games at Netflix, said in a statement.

Next Games, which was founded in 2013, has developed games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role playing game inspired by one of Netflix’s most-watched series.

The acquisition “presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy,” Next Games CEO Teemu Huuhtanen, said in a statement.

The transaction is expected to close in the second quarter of 2022, according to Netflix. Next Games shareholders will receive €2.1 in cash per share of Next Games. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer, a statement noted.