Sega To Acquire Rovio Entertainment For €706 Million

Sega, a Japanese video game company, has confirmed that it will acquire Rovio Entertainment, the Finnish mobile game developer known for its popular Angry Birds franchise, for €706 million.

This acquisition will combine two of the gaming industry's most iconic characters, Red and Sonic. It will also allow Sega to expand its presence in the mobile gaming market. The offer values Rovio at $776 million (€706 million) based on all issued and outstanding shares and options of the company.

Excitement and Delight Expressed by Rovio CEO and Sega's President Over the Acquisition

Sega's acquisition of Rovio is expected to be completed during the third quarter of 2023. Rovio CEO Alexandre Pelletier-Normand expressed his excitement about the acquisition. He stated that he grew up playing Sonic the Hedgehog and was captivated by its state-of-the-art design. He also mentioned that Rovio's mission is to “Craft Joy” and that the company is thrilled to use its expertise and tools to bring even more joy to players.

Haruki Satomi, President and Group CEO of Sega Sammy Holdings expressed his delight about the acquisition. He mentioned that Sega's long-term objective has been to speed up its expansion in this industry. According to him, there will be considerable future synergies as a result of the blending of the brands, characters, and fan bases of the two businesses, as well as their corporate cultures and operational approaches.

Rovio's acquisition is a strategic move for Sega as the mobile gaming market has high potential. It has been a long-term goal for the company to accelerate its expansion in this field. Historically, Sega has released countless video game titles to various gaming platforms, including the “Sonic the Hedgehog” series.

Overall, this deal will likely result in the development of new games and exciting content for players to enjoy. It may also bring potential improvements in technology and operational capabilities. With the mobile gaming market having high potential, it will be interesting to see how Sega and Rovio will collaborate to take advantage of this market and bring joy to players worldwide.

What do you think about Sega's acquisition of Rovio Entertainment? Are you excited to see new games and content from this collaboration? Let us know your thoughts on our socials here.