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Netflix Up 3% Consequent To Acquisition Of Video Game Portal

Shares of online streaming platform Netflix, Inc. (NFLX) are up 3 percent on Thursday trading. The company recently acquired video game creator Night School Studio, thus becoming its first acquisition in the video game space, reports said.

Night School Studio was founded by Sean Krankel and Adam Hines in 2014. Night School Studio is best known for their critically acclaimed debut game, OXENFREE. "We're in the early stages of creating a great gaming experience for our members around the world. So we're excited to announce today Night School Studio is joining Netflix," said Mike Verdu, VP, Game Development at Netflix, in a statement.

The game developer will most likely start working on a "Stranger Things" title right away.

Currently at $613.28, the stock has traded between $463.41 and $619.0 during the past 52 weeks.

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