Japanese gaming giant, Sega, has announced its plans to acquire Angry Birds-maker, Rovio, in a deal worth €706 million ($775 million) in cash.
Haruki Satomi, president, and group CEO of Sega’s parent company Sega Sammy Holdings confirmed the acquisition in a press release on Monday.
Ripples Nigeria gathered that Sega’s offer is 63.1% higher than Rovio’s closing price on January 19, the last trading day before news of a prospective acquisition first broke, and 19% higher than Rovio’s actual closing price on Friday, April 14.
Rovio, which was founded in 2003, became one of the biggest success stories in the European technology field.
The Finish company went public in 2017 and was valued at $1 billion when it debuted on the Nasdaq Helsinki.
“I am confident that, through a combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward,” disclosed Satomi.
Satomi added that this deal would effectively enable Sega to increase its mobile gaming presence while also enabling Rovio to go a different path.
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