Sega to acquire Rovio
April 17, 2023
By Nik Roseveare
Gaming giant Sega is set to acquire Rovio Entertainment Oyj, the mobile game company headquartered in Finland.
Through a Tender Offer, Sega aims to acquire the entirety of Rovio’s outstanding shares and options at €9.25 per share, or €706 million in total. Sega says the acquisition is “a friendly takeover”, as Rovio’s board of directors has agreed to, and has expressed support towards the tender offer.
The acquisition is expected to close in the second quarter of FY 2024/3 and is contingent on the completion of reviews under applicable antitrust laws and other customary conditions.
Through the acquisition, Sega aims to take-in Rovio’s live-operated mobile game development capabilities and expertise in mobile game operation, to accelerate the development of mobile-compatible and multi-platform-supported version of Sega’s existing game IPs, thereby strengthening and further accelerating global expansion of Sega’s game portfolio.
Rovio is a global mobile-first, games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, anime, and consumer products through brand licensing.
Haruki Satomi, Sega President and Group CEO, commented: 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.
Alexandre Pelletier-Normand, CEO of Rovio, added: “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 the Hedgehog: two globally recognised 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.”