Sega buys Angry Birds creator for €706m
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The Japanese company Sega Sammy Holdings has announced a deal to acquire the Finnish company Rovio Entertainment, the developer of one of the most popular mobile games in the world – Angry Birds. Terms deals Sega will pay €9.25 per Rovio share and €1.48 per option, for a total deal of €706 million.
Commenting on the decision to acquire the Finnish developer, the Japanese gaming giant explained it by the need to “strengthen its position” in the global games market. According to Sega estimates, by 2026 the size of this market will grow to $263.3 billion, and the share of mobile games will increase to 56%. Finnish Rovio has eight game studios around the world with about 550 employees. The games developed by Rovio have already been downloaded 5 billion times.
One of them – Angry Birds – became the first in the world to be downloaded more than 1 billion times. In recent years, while revenue growth has been stable, Rovio’s operating profit has also been steadily falling. The market capitalization of the Finnish company is $707 million. Shares of Rovio on the stock exchange in Helsinki reacted to the news about the deal with an increase of almost 18%. Over the past year, their growth has exceeded 26%.
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