Angry Birds Game Company Sold For $776 Million

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Angry Birds Game Company Sold For $776 Million
Angry Birds Game Company Sold For $776 Million

Rovio Entertainment, the popular Finnish video game developer and maker of ‘Angry Birds‘ has agreed to a takeover bid from the famous Japanese video games group Sega. The acquisition is valued at $775 million—in a statement that was released on Monday by both companies.

Ever since its development by Rovio Entertainment in 2009, the addictive bird slingshot game “Angry Birds” has paved the way for numerous merchandise. As well as movies and series adaptations. While the bulk revenue came from the Angry Birds franchise, the company struggled to develop another hit game. And the failure to recreate the same level of success with its subsequent releases resulted in the company laying off one-third of its staff in 2015.

The Future Of Angry Birds Company In The Gaming Industry

The Board Of Directors at Rovio has mutually urged shareholders to accept the offer from Sega. According to Alexandre Pelletier-Normand, the CEO of Rovio, the acquisition was beneficial to the gaming industry. “Red, and Sonic: two globally recognized and iconic characters made by two remarkably complementary companies. With a worldwide reach that spans mobile, PC/console, and beyond. Combining the strengths of Rovio and Sega presents an incredibly exciting future.”

The Sonic The Hedgehog producers are expected to seal the deal in the third quarter of 2023. After the offer publicly commences in the second quarter of the same year. This deal will allow both companies to enhance their presence in different areas of the gaming industry. And Sega promises to achieve this by allowing Rovio to expand beyond mobile gaming to consoles. As well as to other gaming platforms, using Sega’s cross-platform expertise. In addition to the aim of accelerating growth in the global gaming market, the partnership between Sega Corporation and Rovio will also create synergies between its current ventures—Sonic and Angry Birds.

Satomi Haruki, president, and group CEO of Sega Group went further to collude that “Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been Sega’s long-term goal to accelerate its expansion in this field.” He also stated, “I am confident that, through combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.”

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