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Netflix offers to buy Finnish game studio

The Netflix logo is seen on the TV's remote control, in this illustration
The Netflix logo is seen on the TV remote control, in this illustration taken January 20, 2022. REUTERS / Dado Ruvic / Illustration

March 2, 2022

HELSINKI (Reuters) – Netflix has offered to acquire the publicly listed Finnish Next Games, the mobile game company said in a statement on Wednesday.

“We are delighted that Next Games is joining Netflix as a core studio in a key strategic region and talent market, expanding the capabilities of our in-house game studio,” said Vice President. Netflix’s president of games, Michael Verdu, said.

Shares in the Next Game rose 119% to 2.04 euros.

After entering the mobile game market last November, the streaming giant is now planning to invest 65 million euros ($72.08 million) in Next Games, an offer proposed by the company. produced by the board of directors of a mobile game company.

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

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

(1 dollar = 0.9018 euros)

(Reporting by Essi Lehto, Editing by Louise Heavens)

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Emma Bowman

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