Netflix to Acquire Stranger Things: Puzzle Tales Developer Next Games
Netflix has announced that it has entered into an agreement to acquire Stranger Things: Puzzle Tales developer Next Games. The developer, which is based in Helsinki, Finland, also previously developed The Walking Dead: Our World and The Walking Dead: No Man's Land. The acquisition comes as part of Netflix's continued expansion into offering video games on the streaming platform. The terms of the offer would see Netflix pay €2.10 (~$2.33) in cash per share of Next Games for a total of approximately €65 million -- or over $72 million when converted. The deal is subject to all typical closing conditions and the like, but 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 at Netflix, as part of the announcement. "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."
Netflix Announced Plans to Acquire Next Games— Next Games (@nxtgms) March 2, 2022
Read the full release: https://t.co/xt6IHD395z
"We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world's most beloved franchises," said Teemu Huuhtanen, Next Games' CEO, as part of the same announcement. "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."
As noted above, the acquisition of Next Games is expected to close in the second quarter of 2022 for roughly €65 million. Next Games is not the first video game developer to be acquired by Netflix, however, as it previously acquired Oxenfree II developer Night School Studio last year. You can check out all of our previous coverage of Netflix in general right here.
What do you think about Netflix acquiring Stranger Things: Puzzle Tales developer Next Games? Are you interested to see what sort of video games Netflix works on internally next? Let us know in the comments, or feel free to reach out and hit me up directly over on Twitter at @rollinbishop in order to talk about all things gaming!