- Sega, the Japanese gaming giant, has decided to spread its wings and make a bold move in the puzzle game market. The company recently announced its intentions to acquire Rovio Entertainment Oyj, the creator of the wildly popular Angry Birds game, for €706M. Sega plans to purchase all outstanding shares and options, with each share valued at €9.25, representing a sweet 19% premium to the closing price before the announcement.
- The company's announcement revealed that Rovio games have garnered over 5 billion downloads, while its famous Angry Birds franchise has been authorized for use in a variety of other consumer products and entertainment ventures.
Why it matters
Founded in 1960, Tokyo's Sega is renowned for its Sega Genesis/Mega Drive consoles, Sonic the Hedgehog, and Total War franchises, which gained popularity beyond Japan during the 1990s. The company intends to leverage Rovio's expertise in the mobile gaming industry to expand its presence in the market. Furthermore, Sega plans to utilize Rovio's live-operated mobile game development capabilities to develop mobile-based versions of its existing games.