Rovio Set for Sega Takeover

Sega Europe has offered to buy Angry Birds owner Rovio for €706 million ($775 million).

“I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design,” said Alexandre Pelletier-Normand, CEO of Rovio. “Later, when I played Angry Birds for the first time, I knew that gaming had evolved into a true mainstream phenomenon, with the power to shape modern culture. We are thrilled at the idea of using our expertise and tools to bring even more joy to our players, enhancing and expanding Rovio’s and Sega’s vibrant IPs.

“Red and Sonic: two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond. Combining the strengths of Rovio and Sega presents an incredibly exciting future.”

Haruki Satomi, president and group CEO, representative director of Sega Sammy Holdings, added, “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. 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 who 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 the combination of both companies’ brands, characters, fan base, as well as corporate culture and functionality, there will be significant synergies created going forward.”

Sega has offered to acquire the Finland-based game developer for €9.25 ($10.14) per share—a premium of 63.1 percent on the January 19, 2023, closing price of €5.67 ($6.21)—with a €1.48 ($1.62) per share offer to option holders in the company. Rovio’s board has agreed to the offer, as have the entities that control 49.1 percent of the company.