SEGA is establishing itself even further in the world of gaming with plans to acquire Rovio Entertainment Oyj, a Finnish game developer, likely best known for its hit mobile title Angry Birds.
“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,” says Haruki Satomi, President and Group CEO, Representative Director of SEGA SAMMY HOLDINGS. “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.”
SEGA Corporation had a meeting with its Board of Directors today, April 17. The Board resolved during this to implement a tender offer to acquire Rovio. Rovie shareholders have agreed irrevocably to accept the offer, with conditions. The process will have SEGA acquiring all outstanding shares of Rovio, at 9.25 euros per share and 1.48 euros per option, totaling approximately 706 million euros.
The acquisition of Rovio is expected to establish in the second quarter of fiscal year 2024. SEGA intends to use this acquisition to quicken the development of mobile offerings with its existing IPs.
