Sega Acquires Angry Birds Creator Rovio Entertainment for a Whopping $776 Million

Japanese gaming giant Sega announced its acquisition of Rovio Entertainment, the Finnish studio behind Angry Birds, for an impressive $776 million. The move strengthens Sega's footing in the mobile gaming market, which has been Rovio's primary focus.

Rovio is synonymous with Angry Birds, a franchise that catapulted the studio to global success, albeit without similar subsequent hits. With multiple games and movies under its belt, Angry Birds remains popular and profitable. Sega's acquisition primarily aims to tap into the lucrative mobile gaming segment, which is projected to be worth over $263 billion by 2026.

Rovio's board has approved the deal, which values the company at €9.25 per share and €1.48 per option. The friendly takeover furthers Sega's long-term goal of expanding in the mobile gaming market, as expressed by Sega Sammy Group CEO Haruki Satomi.

Overall, with the acquisition expected to close by the end of the year, Sega will gain access to Rovio's talented workforce and acclaimed Angry Birds IP. While it remains to be seen how Sega will capitalize on this venture, the collaboration opens the door to potential new gaming experiences involving iconic characters from both companies.