TOKYO (Reuters) – Sega Sammy announced on Monday that it intends to buy Finland’s Rovio Entertainment, the publisher of Angry Birds, for 706 million euros in order to strengthen its offer in the field of mobile games. The Japanese group will offer 9.25 euros per share, a premium of 19% compared to the closing price on Friday, as part of its friendly takeover bid which should be launched around May 8. Rovio shares soared 17.75% to 9.155 euros on the Helsinki Stock Exchange. “In the rapidly growing global games market, the mobile market has particularly high potential, and Sega’s long-term goal is to accelerate its expansion in this area,” said Haruki Satomi, Chief Executive Officer. from Sega. In its press release, the Japanese group indicates that the board of directors of Rovio has supported this offer. “Combining the strengths of Rovio and Sega paves the way for an incredibly exciting future,” said Alexandre Pelletier-Normand, the Finnish company’s boss.
Sega shares, however, lost 4.17% in Tokyo, as investors had reservations about the synergies between the two groups. “‘Angry Birds’ is known all over the world but the brand is already past its peak,” said Serkan Toto, founder of consulting firm Kantan Games. “I think the investors (of Sega Sammy) are disappointed with the use of this 700 million euros.” Rovio had received in January a proposal from the Israeli group Playtika for 683 million euros but the negotiations were interrupted last month.
(Kiyoshi Takenaka, Laetitia Volga, edited by Bertrand Boucey)
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