Following rumours that Sega was penning a deal to purchase Finnish firm Rovio — the maker of Angry Birds — the Japanese company has made it official.
A statement released on its website (Japanese only at present) confirms that the deal is signed following an offer made by Sega through its European branch. The total purchase price stands at €706 million, which is north of $775 million at the current exchange rate but less than the rumoured $1 billion figure doing the rounds online over the weekend.
Sega calls the acquisition a “Global Expansion of the Consumer Business through Enhancement of Mobile Gaming Capabilities” in an official tweet, with the takeover described (according to Google Translate) as “amicable and Rovio’s Board of Directors has expressed its support for the tender offer.”
Sega is paying €9.25 per share, and Rovio shares sat at €7.78 at the closing of Nasdaq Helsinki on 14th April. Sega discusses in the document its intention to leverage Rovio’s mobile games know-how with an “aim to deliver SEGA content to as many users as possible in the digital game market.” There are also plans for Rovio to expand into the non-mobile market.
Rovio (formally Rovio Entertainment Oyj) released Angry Birds back in 2009 and conquered the mobile market with an IP that spawned multiple entries, Star Wars crossovers, and even its own movie.
We’ll update this article once the official translation drops. In the meantime, let us know below if you think this is a good match.