Japanese video game company Sega is set to acquire Angry Birds creator Rovio for $775M.
The deal is structured as all cash.
- Rovio is most known for creating Angry Birds, a mobile game created in 2009 with a combined 5 billion downloads across all of its versions.
- The game has become a media franchise with movies, merchandise, cartoons, etc.
- Sega will pay cash for the acquisition, stating that it can combine its experience with Rovio's game development capabilities to create new titles.
- According to reports, the company's primary purpose for acquiring the company is to boost its mobile gaming division.
- This deal is expected to close in Q2 2023, while the acquisition price represents a 63% premium on Rovio's current stock price.
- Rovio is based in Helsinki, Finland.
