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Netflix to take over Finnish gaming company

The streaming platform stands to acquire over 90 percent of shares in Next Games.

Next Games is known for developing games based on popular TV series. Image: Vesa Moilanen / Lehtikuva
Yle News

Netflix is set to acquire Finnish gaming company Next Games. The streaming giant's takeover bid has been accepted by shareholders who hold a 94 percent stake in Next Games.

Netflix's share in the company would rise to 94.5 percent when taking stock options into account. The agreement allows for the remaining shareholders to accept the offer at a later stage.

Since Netflix would own over 90 percent of the outstanding stock, it has the option to redeem the remaining shares. Once the deal is completed, Next Games would no longer be listed on the Helsinki Stock Exchange.

Netflix's offering price for shareholders was more than double the market price of the gaming firm's stocks prior to the agreement.

The American streaming giant is seeking to expand into the gaming market. Acquiring Next Games, which specialises in developing games based on TV series and franchises, is reportedly a key part of its strategy.

Next Games is best known for its Walking Dead mobile games, and has recently published titles such as Stranger Things: Puzzle Tales, based on the popular 80's-themed Netflix series.

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