The deal, in which the game giant offered $10.15 per share and $1.62 per option for the Angry Birds franchise creator, comes just a couple months after Playtika extended a $735 million bid for the Finnish developer.
Move over Playtika! Sega has purchased Rovio, best known for its immensely popular Angry Birds franchise, for a whopping $775 million. The acquisition comes just a couple months after Playtika extended a $735 million bid for the Finnish developer. What’s a measly $40 million extra between friends?
“The total value of the offer, based on all 76,179,063 issued and outstanding shares in Rovio and all 742,300 issued and outstanding options… amounts in aggregate to approximately 706 million euros,” or roughly $775 million, as stated by the companies. “Shareholders in Rovio who in aggregate hold shares corresponding to approximately 49.1 percent of the outstanding shares and votes in Rovio, have irrevocably undertaken to accept the offer, subject to certain customary conditions.”
The current deal, which saw Sega offer $10.15 per share and $1.62 per option, currently sits at a 63.1% premium on Rovio’s closing price on January 19, and 19% over the recent April 14 closing price.
“I grew up playing (Sega’s) Sonic the Hedgehog, captivated by its state-of-the-art design,” said Rovio CEO Alexandre Pelletier-Normand. “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.”
Pelletier-Normand added, “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: two globally recognized 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.”
President and group CEO of Sega parent company Sega Sammy Holdings Haruki Satomi, stated, “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.”
Satomi added, “I am confident that, through (the) combination of both companies’ brands, characters, fan base, as well as corporate culture and functionality, there will be significant synergies created going forward.”
We look forward to gaming icons Sonic and Red the bird potentially residing in the same universe. We smell a crossover!