Netflix to acquire Next Games

Netflix has entered into an agreement to acquire Next Games in a €65 million agreement expected to close in the second quarter of 2022, the companies announced.

Founded in 2013 and led by Teemu Huuhtanen, Next Games is the studio behind mobile games Stranger Things: Puzzle Tales, The Walking Dead: Our World, and The Walking Dead: No Man’s Land. By the end of 2021, Next Games had approximately 120 employees. In 2020, the developer reported sales of €27.2 million, with 95 percent of revenue 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 Netflix vice president of games Michael Verdu in a press release. “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.”

Next Games CEO Teemu Huuhtanen added, “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. 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.”