SEGA is buying Angry Birds-maker Rovio

Following days of rumors, SEGA has confirmed plans to acquires mobile game firm Rovio.

Best known for its Angry Birds range of title, the Finnish firm is being snapped up by SEGA in a $776.2 million (€706 million) deal. The tender offer from the company behind Sonic the Hedgehog is due to start next month, and the acquisition is expected to close in Q2 of FY2024/3.

See also:

• Microsoft warns of compatibility issues with new Windows LAPS and Legacy LAPS
• Install the latest Microsoft Edge and get two taskbars in Windows!
• Microsoft is changing the function of the Print Screen key in Windows 11

The deal between the Finnish and Japanese gaming giants will have to be scrutinised by authorities, and it is part of SEGA's vision to create a new ecosystem for its customers. The company has already purchased other game development studios as part of this plan.

SEGA says:

Through the Tender Offer, SEGA aims to acquire the entirety of Rovio's outstanding shares and options at EUR 9.25 per share and EUR 1.48 per option, or EUR 706 million in total (approximately ¥103,680 million converted at EUR1 = ¥146.9 (FX rate as of April 14, 2023). The same FX rate is applied hereinafter). The Acquisition is a friendly takeover, as Rovio's board of directors has agreed to, and has expressed support towards the Tender Offer. Shareholders in Rovio who in aggregate hold shares corresponding to approximately 49.1 percent of the outstanding shares and votes in Rovio, have irrevocably undertaken to accept the Offer, subject to certain customary conditions.

Haruki Satomi, President and Group CEO, Representative Director of SEGA says:

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 combination of both companies' brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.

More details are available in the statement from SEGA.

Image credit: rafapress / depositphotos