Netflix to acquire Finland’s publicly listed mobile gaming company Next Games

In a statement on Wednesday, Netflix said, it has offered to acquire Finnish Next Games, a publicly listed mobile games company.

“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,” said Netflix’s Vice President of games Michael Verdu.

With the news reaching the market, shares of Next Games surged by 119% to 2.04 euros.

After entering the mobile gaming market in November 2021, Netflix now plans on investing $72.08 million (65 million euros) in Next Games, an offer recommended by the mobile game company’s board of directors.

The offer represents a price of 2.1 euros per share, more than double the share’s closing price of 0.93 euros on Tuesday in Nordic First North stock exchange.

The companies said they expect the transaction to close by end of June.

($1 = 0.9018 euros)

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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