Angry Birds Fly to Sega in €706 Million Acquisition Deal

Sonic the Hedgehog is on a mission to conquer the mobile gaming market, thanks to Sega Europe Limited's acquisition of Rovio, the Finnish company best known for its Angry Birds franchise.

The €706 million deal sees Sega Sammy Holdings, the parent company of Sega Europe, provide a €9.25 per share cash offer and a €1.48 per option to option holders of Rovio.

no surprise

Sega's acquisition of Rovio comes as no surprise, as Israeli digital entertainment developer Playtika was also in the running to buy the Finnish company earlier this year. Negotiations with Playtika broke down late last month, allowing Sega to swoop in and take the deal.

aim

The acquisition aims to bring together both companies' brands, characters, fanbases, corporate cultures, and functionality, resulting in significant synergies for future projects. "I am confident that significant synergies will be created going forward through a combination of both companies' brands, characters, fanbase, as well as corporate culture and functionality," said Sega President and Group CEO Haruki Satomi.

opportunity

The acquisition, according to Rovio CEO Alexandre Pelletier-Normand, provides the opportunity to continue Rovio's mission of "Craft Joy" while using its expertise and tools to bring even more joy to players. "We are very excited about the prospect of using our expertise and tools to bring even more joy to our players by enhancing and expanding Rovio's and Sega's vibrant IPs," he said.

forward

The agreement represents a significant step forward for Sega as it seeks to expand its presence and success in the mobile gaming market. While Sega is still present and active in the field, it has yet to hit a home run, making the Rovio acquisition a hard and fast play to dive headfirst into the mobile gaming arena. With Angry Birds and its talented team now in Sega's arsenal, the company is sure to make a name for itself in the mobile gaming world.