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April 17, 2023 3:03 AM EST
by Dominique Chopper
Rovio Entertainment Oyj said on Monday it had agreed to buy it from Sega for 706 million euros ($776.1 million).
The Wall Street Journal had earlier reported that Sega Sammy Holdings was close to closing a deal to acquire the company behind the “Angry Birds” mobile game.
Sega…
by Dominique Chopper
Rovio Entertainment Oyj said on Monday it had agreed to buy it from Sega for 706 million euros ($776.1 million).
The Wall Street Journal had earlier reported that Sega Sammy Holdings was close to closing a deal to acquire the company behind the “Angry Birds” mobile game.
Sega Sammy was formed in 2004 from the merger of Japanese slot machine company Sammy Corp., the video game maker behind the character Sonic the Hedgehog, and Sega Corp. .
Under the deal, Sega paid €9.25 in cash for each Rovio share and €1.48 in cash for each Rovio option.
Rovio had been in talks with Israel’s Playtika Holding Corp. about a possible purchase of the company for 8.50 euros a share, but the talks ended last month without a deal.
“In the fast-growing global game market, the potential of the mobile game market is particularly huge, and accelerating expansion in this field has been Sega’s long-term goal,” said Sega CEO Haruki Satomi.
“By combining the brands, characters, fan bases, and corporate cultures and functions of the two companies, there will be significant synergies going forward.”
Rovio has advised shareholders to accept Sega’s offer, saying shareholders representing 49.1% of shares and voting rights have committed to accept the deal.
The transaction is expected to close in the third quarter of 2023.
Write to Dominic Chopping at dominic.chopping@wsj.com
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