Sina Technology Beijing time on March 2 afternoon news, according to reports, US streaming video service provider Netflix and Finnish game developers next Games jointly announced today, both parties have reached an acquisition agreement.
According to this agreement, Netflix will acquire all shares of NEXT GAMES in cash for each share, with a total value of about 65 million euros. Next Games The Board of Directors has ratified the agreement and consistently decided to recommend that shareholders accept the acquisition.
Michael Verdu, vice president of Netflix Game, said this: "NEXT GAMES has a high experience in management team, with good records, and solid operational capabilities in mobile games based on entertainment franchise."
"We are very happy to expand our internal game studio. Although we have just started in the game, I believe that with Next Games, we will be able to build a world-class Game combination to cater to our needs of our members around the world. "
NEXT GAMES was established in 2013, mainly developed mobile (mobile phone) games, its strategy is to develop games on popular entertainment IPs (including Netflix works). At the end of 2021, there were about 120 employees. NEXT GAMES has a sales of approximately 2.72 million euros in 2020, 95% of income from the game purchases.
According to both parties, this transaction will be completed in the second quarter of 2022.
Netflix said in July last year that the growth of subscription users who expect movies and TV streaming services will be weak, so they will be more deeply involved in the field of video games. Wall Street analyst welcomes this, saying that this is a wise move. But at the same time, analysts are also worried that this requires a lot of time and investment to get a return.
In 2020, Netflix spent nearly $ 12 billion in content, compared with 202 billion US dollars in 2021 to strive to resist competition from Disney, HBO and other companies.