Netflix offers to buy Finnish game studio
Last updated on: 02 March,2022 04:22 pm
Netflix offers to buy Finnish game studio.
HELSINKI (Reuters) - Netflix has offered to buy publicly listed Finnish Next Games (NXTGMS.HE), the mobile games company said in a statement on Wednesday.
"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," said Netflix s Vice President of games Michael Verdu.
Shares in Next Games surged 119% to 2.04 euros.
After entering the mobile gaming market last November, the streaming giant is now planning to invest 65 million euros ($72.08 million) in Next Games, an offer recommended by the mobile game company s board of directors, the statement read.
The offer would mean a price of 2.1 euros per share, more than double the share s closing price of 0.93 euros on Tuesday in Nordic First North stock exchange.
The companies said they expect the transaction to close by end of June.