Netflix has today (March 2) announced its intentions to acquire Next Games for a total value of around €65 million.

Next Games, founded in 2013 and led by CEO Teemu Huuhtanen, specialises in mobile games with a social fan experience. On a successful acquisition, the company will develop games on popular entertainment IP, including Stranger Things: Puzzle Tales, a story-driven puzzle RPG.

As of 2021, Next Games has around 120 employees and reported sales of €27.2 million in 2020 – with 95 per cent of revenue generated from in-game purchases.

Stranger things to come

Michael Verdu, vice president of Games at Netflix, said: “Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises and solid operational capabilities.

“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.”

Huuhtanen added: “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.”

The acquisition is expected to close in Q2 2022.

Netflix's mobile games investment is steadily amplifying, and you can check PocketGamer.biz's complete list of Netflix games, which will be routinely populated on further announcements.