SEGA has announced that it will acquire Rovio Entertainment, the studio behind Angry Birds, in a deal worth approximately £624 million (€706 million).
It will acquire Rovio’s outstanding shares and options at €9.25 a share and €1.48 per option, and also states that those impending purchases are ‘a friendly takeover’ that ‘Rovio’s board of directors has agreed to’.
SEGA wants to strengthen its position in the mobile market overall, as it believes that mobile games will make up 56% of the industry’s games business overall by 2026.
It expects that the deal will be concluded in September, at which point Rovio will become part of the UK-based subsidiary SEGA Europe, and it can get to work on SEGA intellectual properties alongside its work on 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.” said Haruki Satomi, president and CEO of SEGA Sammy Holdings Inc.
“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. I am confident that, through the combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.”
“I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design. Later, when I played Angry Birds for the first time, I knew that gaming had evolved into a true mainstream phenomenon, with the power to shape modern culture.” added Alexandre Pelletier-Normand, CEO of Rovio.
“Joining Rovio has been an honour and I am proud to have seen Angry Birds continue to grow, as we released new games, series and films. 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 and SEGA’s vibrant IPs.”
“Red and Sonic the Hedgehog: two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC, console, and beyond. Combining the strengths of Rovio and SEGA presents an incredibly exciting future.”