GamingSega to acquire Rovio in €706 million deal
Sega has announced it is set to buy Rovio Entertainment in a deal worth €706 million ($776 million).
The Japanese games giant is looking to acquire Rovio's outstanding shares and options at €9.25 a share and €1.48 per option. Rovio's board of directors have expressed their support for the offer. The acquisition is expected to close in the second quarter of the current financial year.
The logic behind the deal involves utilising Rovio's expertise to accelerate Sega's IP in the mobile space -- IP such as Sonic The Hedgehog, which has seen some mobile success already. It matches Sega's planned strategy around enhancing and expanding its brands globally. Rovio has struggled to develop additional IP beyond the Angry Birds brand, and this would provide the company with new franchises to work with.
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