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Sega to Acquire Angry Birds Developer Rovio Entertainment Oyj

Sega announced on Monday that it will acquire the Finland-based Rovio Entertainment Oyj mobile game company through its wholly-owned subsidiary Sega Europe Limited and Sega Sammy Holdings, with Rovio valued at EUR706 million (about US$776 million). The acquisition is a friendly takeover, and Rovio's board of directors has agreed to and expressed support for the offer.

Rovio developed the Angry Birds mobile game, and licenses the brand as consumer products, films and animations, which includes the 2016 The Angry Birds Movie, and its 2019 sequel.

With the acquisition, Sega aims to accelerate its growth in the global gaming market by utilizing Rovio's distinctive know-how in live service mobile game operation, especially Rovio's Beacon platform; rapidly expanding both companies' fanbase by sharing know-how regarding multi-media expansion of global characters; and supporting cross-platform expansion of Rovio's IP using Sega's capabilities. Sega also hopes to accelerate the development of mobile-compatible and multi-platform-supported version of its existing game IPs.

Sega's acquisition of Rovio is not expected to have near-term impact on the company's operations, assets, employees or management team, and Rovio will remain based in Finland.

The tender offer will commence on or about May 8. Further details of the offer will publish in early May, and the acquisition, which is subject to regulatory approval, is expected to be completed in the second quarter of the 2024 fiscal year.

Sources: Sega, Variety (Patrick Frater)