SEGA Sammy Holdings has announced in a press release that it has plans to make a ‘Tender Offer’ to acquire “the entirety of Rovio’s outstanding shares and options.”
The deal will cost SEGA $776 million, which is lower than the $1 billion figure that The Wall Street Journal reported over the weekend. SEGA added that “Rovio’s board of directors has agreed to and expressed support towards the Tender Offer,” so this is seen as a ‘friendly takeover.’
Haruki Satomi, President and Group CEO of SEGA Sammy Holdings, commented:
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. I feel blessed to be able to announce such a transaction with Rovio, a company that owns Angry Birds, which is loved across the world, and home to many skilled employees that support the company’s industry leading mobile game development and operating capabilities.
Alexandre Pelletier-Normand, CEO of Rovio, commented:
I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design. Later, when I played Angry Birds for the first time, I knew that gaming had evolved into a true mainstream phenomenon, with the power to shape modern culture.
Joining Rovio has been an honour and I am proud to have seen Angry Birds continue to grow, as we released new games, series and films. Less known but equally impressive is our industry-leading proprietary technology platform, Beacon, holding 20 years of expertise, allowing tight-knit teams to develop world-class [service game] products.
[Source – The Wall Street Journal, VGC]