Netflix buys its second game development studio

Netflix is ​​continuing its growth in the video game market, buying a second game studio for its talent pool, as shared on Wednesday.

In a press release, Netflix confirmed the acquisition of Next Games, a Finnish mobile studio. Shareholders are expected to receive €2.1 in cash per share, for a total of €65 million, or approximately $72 million. The transaction is currently expected to close in the second quarter of 2022.

“We have been relentlessly focused on delivering on our vision to become the partner of choice for global entertainment companies and create authentic and enduring interactive entertainment based on the world’s most beloved franchises,” said Teemu Huuhtanen, CEO of Next Games.

Next Games has already worked on some licensed games, including Stranger Things: Puzzle Tales and The Walking Dead: No Man’s Land. The team consists of approximately 120 employees based in Helsinki, Finland, significantly increasing the game development headcount at Netflix.

“We are thrilled to have Next Games join Netflix as a lead studio in a strategic region and key talent market, expanding our internal game studio capabilities. As we are just getting started in games, I am confident that “With Next Games, we’re going to be able to build a world-class portfolio of games that will delight our members around the world,” said Michael Verdu, VP of Games at Netflix.

Netflix previously acquired Oxenfree developer Night School Studio, which is currently working on Oxenfree 2. This comes at a time of massive consolidation in the games industry, as Microsoft works to acquire publisher Activision Blizzard for nearly $69 billion, while Sony buys developer Destiny. Bungie for $3.6 billion.

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