SEGA made a big announcement today that’s been buzzing in the gaming community for the past week. They’ve revealed their plans to acquire Rovio Entertainment, the Finnish mobile game company that’s best known for creating the popular Angry Birds games.
The deal is set at €9.25 per share and €1.48 per option, totaling to an impressive €706 million. What’s interesting is that this acquisition is considered a friendly takeover, as Rovio’s board has already agreed to the offer and is actively supporting it.
The acquisition is expected to close in the second quarter of FY 2024/3, as mentioned in the press release.
Sega Acquired Angry Birds Developer, Rovio Entertainment
SEGA has also shared their reasons behind this investment. They see the mobile gaming market as the fastest-growing segment within the gaming industry, and they want to capitalize on Rovio’s expertise in mobile and live operations to speed up the development of mobile versions of SEGA’s beloved intellectual properties.
Additionally, the press release hints at Rovio’s plans to expand beyond mobile gaming, which has led to speculation about the possibility of a triple-A Angry Birds game for PC and consoles.
Haruki Satomi, the President and Group CEO of SEGA, expressed his excitement about the acquisition, stating:
Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been SEGA’s long-term goal to accelerate its expansion in this field. I feel blessed to be able to announce such a transaction with Rovio, a company that owns “Angry Birds”, which is loved across the world, and home to many skilled employees that support the company’s industry-leading mobile game development and operating capabilities. Historically, as represented by the “Sonic the Hedgehog” series, SEGA has released countless video game titles to various gaming platforms. I am confident that, through the combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.
Alexandre Pelletier-Normand, CEO of Rovio, added:
I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design. Later, when I played Angry Birds for the first time, I knew that gaming had evolved into a true mainstream phenomenon, with the power to shape modern culture.
Joining Rovio has been an honor, and I am proud to have seen Angry Birds continue to grow as we released new games, series, and films. Less known but equally impressive is our industry-leading proprietary technology platform, Beacon, holding 20 years of expertise, allowing tight-knit teams to develop world-class GaaS products.
Our mission is to ‘Craft Joy,’ and we are thrilled at the idea of using our expertise and tools to bring even more joy to our players, enhancing and expanding Rovio’s and SEGA’s vibrant IPs.Red and Sonic the Hedgehog: two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond. Combining the strengths of Rovio and SEGA presents an incredibly exciting future.
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