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Next Games plans Helsinki IPO

Finland’s Next Games, the independent developer of Compass Point: West and The Walking Dead: No Man’s Land, plans an IPO on Helsinki bourse’s First North marketplace.

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“Thanks to the investments made into The Walking Dead: No Man’s Land we tripled our revenues in 2016 and our business turned profitable in the second half,” Next Games’ CEO Teemu Huuhtanen, said in a statement.

In January 2016 Next Games unveiled a $10 million financing round to fuel the growth. The investment round was led by earlier backers IDG Ventures and Jari Ovaskainen, and backed by AMC Networks, Lionsgate, Lowercase and IDG Capital. Next Games total funding increased to $18 million with the deal. The new funding will be used to fuel the growth of the company’s existing mobile titles, as well as an unannounced third project currently in development.

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Tarmo Virki
Tarmo Virki
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