Helsinki – Japanese video video games group Sega has supplied to purchase Angry Birds maker Rovio, valuing the Finnish firm at over $770 million, the businesses mentioned Monday.
‘Combining the strengths of Rovio and Sega presents an extremely thrilling future,’ Alexandre Pelletier-Normand, CEO of Rovio, mentioned in a press release, which added that Rovio was recommending shareholders to simply accept the provide.
The provide, which represents a 19% premium over Rovio’s closing share worth on Friday, is a part of the Sonic the Hedgehog maker’s ‘long-term aim’ of increasing into the cellular gaming market, Sega CEO Haruki Satomi mentioned.
‘Among the quickly rising international gaming market, the cellular gaming market has particularly excessive potential,’ he added.
In 2022, Rovio, which employs over 500 individuals, noticed a income of $350 million, and an adjusted internet revenue of $34.5 million.
Rovio launched the fowl slingshot sport in 2009 and it soared quickly to grow to be one of the standard video games on Apple’s App Store.
In 2016, the ‘Angry Birds’ film, produced by Sony Entertainment, was an enormous success and grossed $350 million worldwide.
Rovio additionally manages Angry Birds theme parks in a number of nations and oversees the publication of youngsters’s books concerning the well-known birds in a dozen languages.
Following the worldwide success of Angry Birds, Rovio has remained closely reliant on its flagship sport, struggling to develop one other related hit.
After years of success tied to its Angry Birds cellular video games, Rovio hit a tough patch in 2015 and laid off a 3rd of its workers.
Sega is aiming to open the provide interval in early May, hoping to finish the deal within the third quarter, the corporate mentioned.