SEGA is set to acquire Angry Birds developer Rovio Entertainment in a deal worth $771 million.
Rovio Entertainment is a Finnish studio that is best known for creating the Angry Birds franchise, the iconic mobile game that has spawned countless titles and even its own movie.
The studio is an established leader in the mobile gaming market reporting an operating profit of almost $40 million in 2022 alone.
Rumors that surfaced over the weekend priced the Sonic the Hedgehog publisher’s agreement at around $1 billion. Although the deal ended up falling short of that estimate it’s still SEGA’s most expensive acquisition to date.
Rovio Entertainment joins SEGA family after buyout
SEGA has announced the acquisition of Rovio Entertainment for $771 million. This confirmation was made just a few days after initial reports of SEGA’s interest in the Angry Birds developer first emerged.
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The deal will see SEGA acquire all outstanding shares turning Rovio into a wholly-owned subsidiary of SEGA. The move is described as a “friendly takeover,” with Rovio’s board of directors wholly in support.
SEGA’s motive for the acquisition is to “accelerate growth in the global gaming market and increase corporate value by generating synergies between SEGA’s existing businesses and Rovio’s strengths.” The Japanese publisher also mentions plans to expand Rovio’s influence outside of mobile gaming.
Speaking on the takeover SEGA CEO Haruki Satomi said: “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.”
The acquisition is expected to close in the second quarter of FY2024/3 subject to review of applicable antitrust laws.