Sega Sammy will acquire all outstanding shares and options in Rovio, the developer of the Angry Birds franchise, through a friendly tender offer.
Rovio’s board has agreed to and expressed support towards the offer.
Rovio shareholders holding approximately 49.1% of the outstanding shares and votes in Rovio have agreed to accept the offer.
The acquisition is expected to close in the second quarter of the 2023-24 financial year, pending reviews under antitrust laws and other customary conditions.
Sega Sammy aims to expand its presence in the rapidly growing global mobile gaming market.
By combining both companies’ brands, characters, fanbase, and capabilities, significant synergies are expected.
The acquisition will accelerate Sega’s growth in the global gaming market and increase its corporate value.
Rovio’s strengths, including its global IPs and live-operated mobile game development capabilities, will contribute to the synergies.
Sega will utilize Rovio’s experience in live service mobile game operation to enter the global mobile gaming market.
The acquisition will support cross-platform expansion of Rovio’s IP using Sega’s capabilities, as well as the growth of both companies’ fanbase.
Rovio chief executive Alexandre Pelletier-Normand expressed excitement about the future prospects and the opportunity to enhance and expand Rovio’s and Sega’s vibrant IPs.
Sega had earlier entered into discussions over the potential tender offer for Rovio.
Rovio confirmed the talks but did not provide certainty about when or if the tender offer would take place.
Rovio launched a strategic review of its business in February, leading to discussions with various parties.
Playtika previously offered to acquire Rovio but ultimately decided not to proceed with the negotiations.
Rovio’s Angry Birds franchise, launched in 2009, has gained immense popularity and diversified into various media forms.
