Netflix Inc NFLX has agreed to acquire mobile games provider Next Games. Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of €65 million.
Next Games' strategy is to develop games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role-playing game (RPG) inspired by one of Netflix's most-watched series.
Next Games reported sales of €27.2 million in 2020, with 95% of revenues generated from in-game purchases. The transaction will likely close in the second quarter of 2022.
Michael Verdu, VP of Games, Netflix, said, "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."
Price Action: NFLX shares traded lower by 1.83% at $379.19 in the market on the last check Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.