Netflix has announced today that it will acquire finnish mobile games developer, Next Games. Under the terms of the ‘combination’ agreement, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million.

Founded in 2013, the developer has developed games based on various entertainment properties such as Stranger Things and the Walking Dead. At the time of the announcement, the company had approximately 120 employees and reported sales of €27.2 million with 95% of revenues generated from in-game purchases.

“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, Netflix. “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.”

Find out more about Next Games here, and Netflix here.

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