Japan’s Sega Sammy to acquire Angry Birds-maker Rovio Entertainment for $776 million

Japan’s Sega Sammy Holdings is planning to acquire Finland’s Rovio Entertainment, the company behind the popular mobile game Angry Birds. Sega Sammy is likely to acquire the Finnish company for $776 million in order to bolster its mobile gaming business. This development sent the shares of Rovio soaring. 

Sega Sammy CEO Haruki Satomi said, "In 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.” 

The announcement also stated that this was a friendly takeover as Rovio’s board of directors supported the tender offer. The tender offer bid is set to be launched around May 8. Sega Sammy will offer 9.25 euros for each share, which is a 19 per cent premium over Friday’s closing, as per a Reuters report. 

Shares of Rovio rose as much as 18.8 per cent in early trade in Europe, the report added. However, Sega Sammy shares dipped 4.2 per cent over investor doubts about synergy prospects. 

Rovio CEO Alexandre Pelletier-Normand said that the combination of strengths of Rovio and Sega “presents an incredibly exciting future”. 

This development comes after Israeli company Playtika Holding Corp’s $683 million euro takeover bid in January that eventually fell through. 

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