Netflix offers to buy Finnish game studio

Netflix has offered to buy publicly listed Finnish Next Games, 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.

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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.