Sega Corporation has announced the acquisition of Rovio Entertainment Oyj, a mobile game company from Finland known for Angry Birds. The total acquisition cost is 706 million euros.
Sega acquires Rovio, the maker of "Angry Birds"
Rovio Entertainment Oyjの買収について
SEGA to Acquire Rovio Entertainment Oyj
~ Global Expansion of the Consumer Business through Enhancement of Mobile Gaming Capabilities ~https://t.co/ICxRH6uuQK
— セガ公式アカウント? (@SEGA_OFFICIAL) April 17, 2023
This announcement was made following the decision of the board of directors to acquire Rovio through a public tender offer via SEGA Europe Limited, a wholly-owned subsidiary of Sega Corporation. Sega Sammy Holdings, the parent company of Sega Corporation, and Rovio reached the final agreement on April 17, 2023, Japan time.
It should be noted that this acquisition is a friendly one, and Rovio's board of directors has expressed their approval of the public tender offer. The completion of the acquisition is scheduled to take place in the second quarter of the fiscal year ending March 2024.
Sega eager to develop existing IP into mobile and multi-platform games
Sega Corporation is focusing on the proportion of the global game market, particularly the mobile game market. Regarding the background of this acquisition, they announced that "To enhance our presence in the rapidly growing global game market, including mobile games, we have determined that it is essential to strengthen our continuous game development structure and operational capabilities and decided to proceed with the acquisition."
In addition, by acquiring Rovio's strong global IP, including the global brand "Angry Birds," and its development capabilities, Sega aims to promote the mobile game development and multi-platform compatibility of its existing IP. The future developments are attracting attention.
For further details, please check Sega's official website and Rovio's official website for investors.
Commenting on the Offer, Haruki Satomi, President and Group CEO, Representative Director of Sega Sammy Holdings Inc.
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 that 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 combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.
Commenting on the Offer, Alexandre Pelletier-Normand, CEO of Rovio
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: 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.