Netflix has acquired Next Games in a multimillion dollar deal. The streaming giant will collaborate with the gaming developers behind hits such as 'The Walking Dead' series and the 'Stranger Things' mobile game in a deal reportedly worth $72m (£54m) in an attempt to "expanding internal game studio capabilities.
In a statement, Michael Verdu, Vice President of Games, 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."
Netflix first announced their intention to branch out into mobile video games in July 2021 and launched their first five fames onto the platform the following November, with titles such as 'Stranger Things 3' and ' Shooting Hoops' available at no extra cost to existing subscribers.
Teemu Huuhtanen, Chief Executive Officer, Next Games, said of the collaboration: "We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises.
"We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises."
According to reports by City A.M, the deal will be finalised in he "the second quarter" of 2022.