SEGA wants to acquire Angry Birds maker Rovio for 706 million euros

SEGA wants to officially acquire Angry Birds developer Rovio Entertainment. The two companies announced this on Monday. The company has made an offer of 706 million euros for the Angry Birds maker. Rovio confirmed last weekend that it was in discussions with SEGA.

SEGA has entered into an agreement with Rovio, the two companies confirm in a press release. SEGA intends to acquire all outstanding shares of Rovio for an amount of 706 million euros. Rovio’s board of directors has approved that offer. The acquisition still needs to be approved by market regulators. The acquisition is expected to close in the second quarter of SEGA’s 2024 fiscal year. That quarter ends on September 30, 2023.

Rovio had been in discussions with companies for a takeover for some time. In February, Rovio announced to launch a strategic review and held non-binding discussions about a possible takeover bid for shares of the Angry Birds maker. The company was previously in discussions with Israeli company Playtika, which made an offer of 683 million euros for the Angry Birds maker. However, those talks were canceled last month. Rovio confirmed last weekend that it was in discussions with SEGA for a possible takeover, although no concrete agreements had been made at that time.

Angry Birds 2. Source: Rovio