Global streaming entertainment service Netflix, Inc. (NASDAQ:NFLX) is to acquire Next Games (NXTGMS), a Finnish mobile game developer.
Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65m. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.
The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.
Founded in 2013 and led by Teemu Huuhtanen, Chief Executive Officer, Next Games creates and operates engaging mobile games with global reach and a social fan experience at its core. The company’s strategy is to develop games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role playing game (RPG) inspired by one of Netflix’s most watched series.
The company had approximately 120 employees at the end of 2021 and reported sales of approximately €27.2 million in 2020, with 95% of revenues generated from in-game purchases.
Netflix is a streaming entertainment service with 222 million paid memberships in over 190 countries enjoying TV series, documentaries, feature films and mobile games across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
FinSMEs
06/03/2022