Japan’s Sega Sammy Holdings announced on Monday that it’s planning to acquire Finnish video game developer Rovio Entertainment Oyj, the maker of the hit Angry Birds franchise, for €9.25 per share, €706 million ($776 million) in total.
The announcement comes days after Rovio confirmed that it was holding discussions and nearing a deal with the Tokyo-based company.
In a statement, Rovio said that the acquisition will enable it to grow its footprint in the global mobile gaming industry.
Haruki Satomi, President & CEO at Sega Sammy Holding Inc, said: ‘’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.’
Alexandre Pelletier-Normand, CEO of Rovio, commented: ‘’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.’’
In late February, Rovio delisted the paid version of Angry Birds from the Play Store and renamed it to ‘’Red’s First Flight’’ on the App Store to prioritize its other titles.
Also Read: Angry Birds Revenue and Player Statistics
Meanwhile, earlier this year, Israeli mobile games company Playtika also made an offer to acquire Rovio for around €750 million ($810 million), but the duo didn’t come to an agreement.