Sega has made a significant acquisition by purchasing Rovio for a staggering $776 million in cash. Rovio is the developer of Angry Birds, a widely popular mobile game.
After engaging in discussions with multiple companies, Rovio has finalized an agreement with the Japanese gaming giant, Sega. While the completion of the deal is not immediate, Rovio anticipates that the acquisition will be finalized in the second quarter of its fiscal year, which means it will take a few more months.
In a press release, Rovio stated, “The Board of Directors of Rovio, represented by a quorum comprising all members of the Board of Directors, has unanimously agreed to recommend that the shareholders and the option holders of Rovio accept the Offer.”
Haruki Satomi, president and group CEO of Sega Sammy Holdings, expressed his confidence in the acquisition, saying, “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 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.”
Rovio’s Negotiations with Sega and Playtika
Not long ago, Playtika, an Israel-based mobile gaming company, sought to acquire Rovio for $810 million. However, the parties could not come to an agreement for undisclosed reasons. Rovio and Playtika did not elaborate on the details of the impasse.
Established in 2003 in Finland, Rovio introduced several games for iOS and Android devices before making a breakthrough with Angry Birds in 2009. Angry Birds enjoyed tremendous success, becoming a leading product in the mobile gaming market. Additionally, it spawned two movies released in 2016 and 2019. Rovio’s games have been downloaded over a billion times over the years.
Commenting on the acquisition, Alexandre Pelletier-Normand, CEO of Rovio, said, “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.”
Image Source: OlegDoroshin / Shutterstock
