Next Games, a mobile games company, has announced in a statement on Wednesday that Netflix has offered to buy its publicly listed games.
Netflix’s Vice President, Games, Michael Verdu, said the company is excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, which expands the internal game studio capabilities.
The statement revealed that the streaming giant plans to invest 65 million euros ($72.08 million) in Next Games, recommended by the mobile game company’s board of directors.
However, the deal is part of Netflix’s bigger strategy to build out its gaming content as a complement to its video catalogue.
Next Games is listed on the public markets in Helsinki, and the deal is being done as an all-cash share purchase at €2.10 per share.
The companies said they expect the transaction to close by the end of June.
Next Games was founded in 2013 and led by Teemu Huuhtanen.
The Finnish game developer creates and operates engaging mobile games with global appeal and an authentic and social fan experience at its core. The company’s strategy is to develop games based on popular entertainment shows.
