The California-based streaming service Netflix is further expanding into the mobile gaming industry. On 2 March 2022, Netflix announced the acquisition of Next Games for $72 million of Finnish mobile games developers. Next Games is listed on the Helsinki stock exchange, and acquisition is considered as a cash deal at $2.33 per share. Companies expect sales to complete in the second quarter of 2022.
Next Games has around 120 employees. Company revenues were $31.01 million and $28.73 million in 2020 and 2021, respectively—more than 90% of all revenues made from in-game purchases for both periods.
In December 2021, share prices decreased by more than 25% of their initial value. At the time, the company announced it would not hit the revenue targets for 2021.
Next Games went public i...
