Japan: Sega, a division of Sega Sammy Holdings in Tokyo, has agreed to acquire Angry Birds maker Rovio Entertainment for $776.2 million as the consolidation in gaming continues.

Sega announced that it plans to make a tender offer to acquire the Finnish company through the Sega Europe subsidiary, and it has entered into a definitive agreement with Rovio. According to the company, the deal will enable a global expansion of its consumer business through the boost that Rovio will give to its mobile gaming capabilities.

Through the deal, Sega aims to acquire all of Rovio’s outstanding shares and options at $10.16 per share and $1.63 per option, or $775 million.

“The acquisition is a friendly takeover, as Espoo, Finland-based Rovio’s board of directors has agreed to and expressed support towards the tender offer,” the company added.

Shareholders in Rovio who, in aggregate, hold shares corresponding to approximately 49.1 percent of the outstanding shares and votes in Rovio have irrevocably undertaken to accept the offer, subject to certain customary conditions. The acquisition is expected to close in the second quarter of FY2024/23 and is contingent on the completion of reviews under applicable antitrust laws and other customary conditions.

According to reports, the move is part of its plan to convert existing intellectual properties into global brands, strengthening user engagement through multi-platform support, an enhanced media mix, and more.

Sega previously acquired The Creative Assembly, maker of the Total War series, in 2005, and Japan’s Atlus in 2013.

Rovio’s games have been downloaded more than five billion times. It is best known for Angry Birds, which debuted on mobile in 2009 and has inspired a couple of movies and lots of sequels.

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