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Netflix Pays $72 Million to Acquire Finland's Next Games

Netflix's Next Games
(Image credit: Netflix)

Netflix said it has agreed to pay about $72 million to acquire Finnish mobile games company Next Games. 

Helsinki-based Next Games, which has around 120 employees, has already made a game tied to a popular Netflix series, Stranger Things Puzzle Tales. Next Games has also published two titles based on AMC's long-running The Walking Dead franchise.

For Netflix, it's the latest move made under Mike Verdu, the former EA executive hired by the streaming company last July to build a games division. 

In September, Netflix paid an undisclosed sum to buy Night School Studio, a small, 21-person gaming studio based in Glendale, Calif. and best known for producing 2016's acclaimed Oxenfree.

And now, it's purchased Next Games. 

"Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities," Verdu said in a statement, "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."

Added Next Games CEO Teemu Huuhtanen: "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."

The transaction is expected to close in the second quarter. 

Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!