The acquisition of Rovio Entertainment, based in Finland, would cost the Japanese corporation Sega Sammy Holdings Inc. $775.8 million.
Rovio created the Angry Birds game for use on mobile devices.
Following the presentation of the results of a strategic evaluation, Rovio revealed that it was already in talks with Sega about a prospective takeover bid.
“I am confident that significant synergies will be created in the future through the combination of both companies’ brands, characters, and fanbases, as well as corporate culture and functionality,” said Haruki Satomi, CEO of Sega Sammy Holdings.
According to Alexandre Pelletier-Normand, CEO of Rovio, Red, the main character in the Angry Birds video game franchise, and Sonic the Hedgehog are “two globally recognised and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond.” Rovio is a mobile video game developer.
In January, Playtik, an Israeli competitor, made an initial bid for Rovio. Rovio stated earlier this month that talks over a prospective acquisition had stopped.
Playtika had made a 683 million euro offer. Angry Birds, like Sonic for Sega, has heavily relied on licensing to widen the breadth of its characters’ appearances across a range of various mediums.
Read also: Qene Games utilize Ethio Telecom to market its mobile games in Ethiopia
More information on the sale of Rovio by Sega
Sonic the Hedgehog and Total War are two of the most well-known video game series that was produced by Sega, a company that was established in 1960.
By purchasing Rovio, Sega may be able to obtain access to what is possibly the most successful franchise in the mobile gaming industry.
Rovio estimates that its games have been downloaded by more than 5 billion people worldwide.
According to statements made by Sega, the acquisition is anticipated to be finalised between the months of July and September, assuming there are no unforeseen delays in obtaining approval from the relevant authorities.
About Rovio
Rovio Entertainment is a Finnish video game developer that has its headquarters in Espoo. The company was originally known as Relude Oy and Rovio Mobile Oy, and it does business abroad under the name Rovio Entertainment Corporation.
Angry Birds is the franchise that has brought the most success to the company that was established in 2003 by students at Helsinki University of Technology named Niklas Hed, Jarno Vakevainen, and Kim Dikert. At the moment, the corporation maintains studios in the following locations: Espoo, Stockholm, Copenhagen, and Montreal.
