Last summer, streaming giant Netflix announced its foray into the video game industry
Since then, the company has acquired three smaller gaming companies in hopes of quickly building out its new venture, and eventually capturing a large chunk of the subscription-based streaming video game business.
Last week, the company announced it was buying Boss Fight Entertainment, an independent Allen, TX studio. Boss currently has 130 employees with published titles including myVEGAS Bingo, Dungeon Boss, Age of Empires, Star Wars: The Old Republic and Halo Wars, among others.
Boss Fight founders, David Rippy, Bill Jackson, and Scott Winsett said in a joint statement, “Boss Fight’s mission is to bring simple, beautiful, and fun game experiences to our players wherever they want to play…
“Netflix’s commitment to offer ad-free games as part of members’ subscriptions enables game developers like us to focus on creating delightful game play without worrying about monetization…
“We couldn’t be more excited to join Netflix at this early stage as we continue doing what we love to do while helping to shape the future of games on Netflix together.”
Although the industry as a whole has been undergoing massive consolidation, Mike Verdu, Netflix’s VP of Game Development says the company will expand further into the gaming industry at a slow, yet measured and meaningful pace, and will eventually begin developing its own internal team to create new titles.
Details of the deal have yet to be released.
2022 is the year of gaming. With more M&A deal value having already been reported than any full year prior, investors should be on the lookout for potential buyout opportunities.
Regardless of the speed at which Netflix expands its gaming business, many giant gaming companies are almost certainly on the lookout for attractive acquisition targets, right now.
Interested in learning more about potential video game buyout targets?…
Find out, HERE
Or read more about the acquisition of Boss Fight Entertainment, HERE
Source: https://www.nytimes.com/2022/03/24/business/netflix-game-studio.html