The Japanese firm behind Sonic the Hedgehog said it has offered to buy Angry Birds studio Rovio Entertainment for around $776 million.
Gaming giant Sega, best known for its Sonic the Hedgehog character, has offered to buy Angry Birds maker Rovio Entertainment, both companies
on Monday, days after takeover talks were first revealed as the Japanese firm doubles down on efforts to expand into the mobile gaming market.Tokyo-based Sega Sammy Holdings has offered €706 million to acquire Finland’s Rovio Entertainment, the companies said in a joint statement. The deal covers all of Rovio’s outstanding shares and options and values stocks at €9.25 per share and options at €1.48 per option.Rovio’s board unanimously endorses the offer and the deal is backed by 49% of shareholders, the companies added.
In a statement, the Japanese giant said it plans to use Rovio’s “distinctive know-how in live service mobile game operation, to bring Sega’s current and new titles to the global mobile gaming market.”Rovio shares in Helsinki were up nearly 18% during trading Monday morning.Sega wants to use Rovio’s experience in mobile gaming to expand its own footprint in the sector.
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