Sega confirms $775 million buyout for Angry Birds creator Rovio

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The creators of the Angry Birds video games have agreed to the purchase price of the Japanese gaming conglomerate behind Sonic the Hedgehog.

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Sega Sammy Holdings of Japan is paying $775 million for Rovio Entertainment of Finland.

Rovio claims that Angry Birds was the first mobile game to have one billion downloads. The company has also produced two Angry Birds movies.

Sega is attempting to leverage Rovio’s expertise in mobile gaming.

Rovio employs approximately 550 people across eight gaming studios around the world. Last year, downloads of its games had surpassed five billion.

Sega announced the acquisition of Rovio, citing the need to “strengthen its position” in the worldwide gaming market.

A Lucrative Market

This market is estimated to expand to $263.3 billion by 2026, with mobile gaming accounting for 56% of the total.

Sega stated that it will leverage Rovio’s “distinctive knowhow in live service mobile game operation.” It will bring its own existing and future titles to the worldwide mobile gaming market.

The company emphasized Rovio’s Beacon mobile gaming platform. It claimed that it had “20 years of high-level expertise in live service-mobile game operation” in the US and Europe.

“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,” said Haruki Satomi, chief executive of Sega Sammy Holdings.

“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.”

Rovio had a stock market worth of $707 million as of Friday’s close. Shares in the firm increased by about 18% on Monday following the agreement with Sega.

Sega Sammy is a Japanese worldwide holding corporation founded in 2004 by the merging of Sega and Sammy Corporation.

Sega has created multiple multimillion dollar video game brands. It is well known for its Sonic the Hedgehog character, who has also appeared in two films.

Sammy creates and markets amusement arcade machines.


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Author: Francis Rey

Francis is a voracious reader and prolific writer. He has been writing about social media and technology for more than 10 years. During off hours, he relishes moments with his wife and daughter.

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