How many millions does it take to make the Angry Birds happy? Now we know the answer
After the fallout with Playtika in Q1 2023, Rovio will be acquired by Sega by the end of the year
Gaming enthusiasts around the world are turning their eyes towards one of the biggest sales of a European gaming company. The latest news is that the Japanese gaming giant Sega has confirmed the purchase of Angry Birds developer, the Finnish video game developer Rovio, in an all-cash deal worth €706 million ($775 million).
This is not the first time the plans to acquire Rovio are announced. In January, the Israeli mobile gaming company Playtika offered €750 million ($810 million) for the company, however, the deal fell through due to unspecified reasons. Following the failure of this deal, Rovio noted that it was engaging in talks with other interested parties.
According to information provided by Rovio, the acquisition by Sega will complete during the second quarter of 2023.
The price proposed by Sega includes a 63.1% premium on Rovio’s closing price on 19 January, which was the last date of trading before the announcement of an acquisition, and a 19% premium on Rovio’s final closing price on 14 April.
Experts argue that Rovio represents one of the most notable success stories of the European video game industry. While the company has created countless video games, even before the arrival of iOS and Android, it has managed to pocket sizable profits from the Angry Birds franchise, expanding the offer to include countless products including cookbooks and toys.