Sega has announced it’s acquiring Rovio Entertainment, the Finnish mobile game company behind Angry Birds.
A press release states that Sega will absorb the entirety of Rovio’s outstanding shares and options (€706 million in total) in what’s being labeled as a “friendly takeover” since Rovio’s board of directors agree to and support the acquisition terms. This acquisition will begin next month and is expected to conclude in the second quarter of the 2024 fiscal year once it’s completed the necessary antitrust reviews.
“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,” says Haruki Satomi, president and group CEO of Sega Sammy Holdings. “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 combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.”
“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,” says Rovio CEO Alexandre Pelletier-Normand in a statement. “Combining the strengths of Rovio and Sega presents an incredibly exciting future.”
Rovio is best known as the creator of Angry Birds, a massively successful series of mobile games that have since turned into a global media brand. In addition to a multitude of games, the series has spawned two animated films and several TV and web series.