SEGA parent company SEGA SAMMY HOLDINGS has announced that it has arrived at a deal with Angry Birds developer Rovio to acquire the company for € 700 million ($770 million). The move comes as SEGA aims to “further strengthen its position in this fast-growing mobile and global gaming market.”
SEGA shared the Rovio acquisition news in a press release today. The deal is not a hostile takeover but rather has put smiles on the faces of Rovio’s leadership. SEGA highlighted it “is a friendly takeover, as Rovio’s board of directors has agreed to, and has expressed support towards the Tender Offer.”
Also, Rovio investors who have 49.1% of outstanding shares “have irrevocably undertaken to accept the Offer, subject to certain customary conditions.”
Notably, the acquisition news comes after Rovio announced in February that it was renaming and/or pulling its “Rovio Classics: Angry Birds on the App Store and Google Play Store.” That was essentially done to improve the company’s business looking forward by moving players into its modern games with in-app purchases and subscriptions.
That move no doubt helped create more value when it came time for SEGA to make its acquisition offer.
The Angry Birds series (with more than 7 different titles) makes up Rovio’s most popular games, but it also has Darkfire Heroes, Small Town Murders, and Sugar Blast in its portfolio. The acquisition announcement includes the detail that Rovio’s games have been downloaded over 5 billion times and evolved into pop-culture with consumer products and brand licensing.
Rovio CEO Alexandre Pelletier-Normand shared this statement on the deal:
I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design. 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.
Joining Rovio has been an honour and I am proud to have seen Angry Birds continue to grow, as we released new games, series and films. Less known but equally impressive is our industry-leading proprietary technology platform, Beacon, holding 20 years of expertise, allowing tight-knit teams to develop world-class GaaS products.
Our mission is to ‘Craft Joy’ and 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 the Hedgehog: 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.
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