Sega Europe Limited and Rovio, best known for its Angry Birds franchise have announced an agreement that will see the former acquire the latter in a deal worth €706 million.
Earlier this year, we brought to you the news that Israeli digital entertainment developer Playtika (and “certain parties”) were in the running to acquire Finland’s Rovio, most noted for their Angry Birds franchise.
After talks broke down with Playtika late last month, the “certain parties” that were previously noted found themselves very much back in play. And as of today, we officially know who at least one of these parties was, Sonic the Hedgehog (and many others) maker, Sega.
The deal will see Sega Sammy Holdings, the wholly owned parent company of Sega Europe Limited provide a €9.25 per share cash offer and a €1.48 per option to option holders of Rovio deal amounting to approximately €706 million.
As for its plans with Rovio, Sega’s purchase has really one goal in mind - it’s a hard and fast play to dive headlong into the mobile gaming market, an area where Sega, while still very much present and active, hasn't really achieved a bona fide home run. The Rovio acquisition seeks to stem the tide.
“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,” commented Sega’s President and Group CEO Haruki Satomi. “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.”
On the acquisition, Rovio CEO Alexandre Pelletier-Normand 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.”
The offer period is expected to commence on or about May 8, 2023, and to expire on or about July 3, 2023, and is subject to customary terms and conditions.