Japanese games giant Sega has agreed to buy mobile behemoth Rovio.
The deal is worth €706 million ($776 million) – or €9.25 a share and €1.48 per stock option. This comes in the wake of Israeli firm Playtika attempting to buy the Angry Birds maker.
Sega's plan is to use this acquisition to accelerate its mobile games business. In addition to a walth of mobile expertise and the Angry Birds brand, Rovio also boasts the Beacon live-service platform.
"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," Sega Sammy group CEO and president Haruki Satomi said.
"I feel blessed to be able to announce such a transaction with Rovio, a company that owns Angry Bird”, 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. Historically, as represented by the Sonic the Hedgehog series, Sega has released countless video game titles to various gaming platforms. I am confident that, through combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward."
Rovio CEO Alexandre Pelletier-Normand added: "Joining Rovio has been an honour and I am proud to have seen Angry Birds continue to grow, as we released new games, series and films. Less known but equally impressive is our industry-leading proprietary technology platform, Beacon, holding 20 years of expertise, allowing tight-knit teams to develop world-class [games-as-a-service] products.
"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 the Hedgehog: 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."
