Sega announces offer to buy Rovio, creators of the game Angry Birds

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Purchase proposal is R$ 3.8 billion. Negotiations for the acquisition should be finalized in the third quarter of this year. Rovio Entertaiment, developer of the game Angry Birds, should be bought by Sega Peter Parks/AFP The Japanese group Sega presented an offer to buy the Finnish Rovio, known for its Angry Birds franchise, for almost 700 million euros (US$ 770 million dollars, about R$ 3.8 billion in the current conversion) informed this Monday (17) the two electronic game companies. The offer, which represents an appreciation of 19% over the closing price of Rovio’s share on Friday (14), is part of the “long-term objective” of the Japanese brand, known for the Sonic game, to expand its operations to smartphone gaming market, Sega and Rovio said in a joint statement. After the worldwide success of Angry Birds in the early 2010s, the growth of Rovio, which specializes in mobile games, stalled due to dependence on this license and a lack of new products. The group, which went public in 2017, had a modest revenue of 317.7 million euros (US$ 348 million dollars, R$ 1.8 billion) last year, with a net profit of 31 million euros (US$ $34 million dollars, BRL 177.3 million). Trailer of ‘Angry Birds 2’ The board of Rovio, which has almost 500 employees, recommended that shareholders accept the offer of 9.25 euros per share. “Combining the strengths of Rovio and Sega represents an incredibly exciting future,” said CEO of the Finnish group, Canadian Alexandre Pelletier-Normand. Sega wants to present the offer in early May and close the acquisition in the third quarter of the year.

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