The purchase amount from Next Games is just over EUR 63 million.
Next Games was listed on the Helsinki Stock Exchange in 2017. OUTI JÄRVINEN
Streaming giant Netflix acquires Finnish mobile gaming company Next Games.
Netflix has made a cash offer for Next Games, which the Finnish company’s Board of Directors will recommend to shareholders.
The offer is EUR 2.10 per share. The closing price of the Next Games share on the First North list of the Helsinki Stock Exchange was EUR 0.931 on Tuesday.
The premium is thus 125.6 per cent at Tuesday’s closing price and 69.6 per cent at the six-month volume-weighted average share price (EUR 1.24).
The bonus is unlikely to warm up those who participated in the gaming company’s IPO in March 2017. The share price was 7.90 euros.
Calculated at a price of EUR 2.10, the transaction amount is just over EUR 63 million.
Chairman of the Board of Next Games Petri Niemi justifies the sale of the company by the fact that the consolidation of the gaming and entertainment industry is accelerating.
– The government sees a clear advantage for Next Games in merging with one of the world’s largest entertainment companies. In our view, Next Games will benefit from Netflix’s long-standing expertise in the entertainment industry and its unparalleled technological and creative expertise, as well as its data-driven strategy, Niemi says in the company’s press release.
Vice President, Games, Netflix Michael Verdu says Next Games has an experienced management team, strong evidence of mobile branding based on entertainment brand licenses, and solid operational capability.
– We are excited that Next Games will become Netflix’s core gaming studio.
Netflix is the world’s leading streaming entertainment service with 222 million paying members in more than 190 countries.
Next Games is a developer and publisher of mobile games focusing on licensed games and the first mobile game company to be listed on the stock exchange in Finland. It was listed on the stock exchange in 2017. The company is known e.g. From The Walking Dead.