Netflix Will Buy Finnish Mobile Games Developer Next Games For $72 Million

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Netflix Will Buy Finnish Mobile Games Developer Next Games For $72 Million
Photo by David Balev on Unsplash

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Netflix plans to buy Finnish mobile games developer Next Games for $72 million, the companies announced Wednesday, in a deal that sees the streaming giant continue its push into gaming.


The transaction is expected to close in the second quarter of this year and would be Netflix’s second acquisition of a gaming studio in less than six months, following its September acquisition of Glendale-based gaming studio Night School. The streaming service, which has a huge footprint in Los Angeles, has looked to expand its offerings beyond traditional movies and TV shows—launching video games for mobile devices last year and adding interactive movies and shows to its platform.

Founded in 2013, Next Games develops mobile games based on popular entertainment intellectual property, including games inspired by the Netflix hit series “Stranger Things” and AMC’s “The Walking Dead.” The Helsinki-based firm has roughly 120 employees and reported about $30 million in sales in 2020, with 95% of its revenue coming from in-game purchases in its otherwise free-to-play games, according to the company.

"Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises and solid operational capabilities," Michael Verdu, Netflix’s vice president of games, said in a statement. "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 shareholders will receive 2.10 euros in cash for each share of the company, amounting to a total equity value of about 65 million euros ($72 million). The gaming studio’s board unanimously recommended that the shareholders accept the Netflix offer.

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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