Sega to acquire Angry Birds maker Rovio for $776 million


A model of Angry Birds character ‘Red’ sits on display inside the reception area of the Rovio Entertainment Oy headquarters in Espoo, Finland, on Thursday, Feb. 28, 2019.
Bloomberg | Bloomberg | Getty Images

Japanese gaming giant Sega announced Monday it has made a 706 million euro ($776 million) offer for the maker of the Angry Birds puzzle game, Finland’s Rovio Entertainment Oyj.

The deal would be for the entirety of Rovio’s outstanding shares and options, valuing them at 9.25 euro per share, a roughly 19% premium to their closing price before the announcement, Sega said.

Rovio’s board is in support of the offer, the company added.

Rovio games have been downloaded over 5 billion times, according to the statement Monday. Meanwhile its best-known Angry Birds franchise has been licensed into other entertainment and consumer products.

The Wall Street Journal had previously reported the deal was expected to be worth around $1 billion.

Rovio shares were up 17.88% at 8:30 a.m. London time.

Articles You May Like

Succession review: The end is revealed at last… but of course, as always, there’s a twist – contains spoilers
HSBC opts for Innovation in rebranding of Silicon Valley Bank UK
Solar investment set to overtake oil production and attract over $1 billion a day in 2023, IEA says
‘Very big lessons to learn’: Bank of England chief accepts inflation criticism
Did pro-Ukrainian fighters capture a Russian town?