More popular animal characters are coming to Sega Corporation’s lineup, as the company announced in a press release that it will acquire Rovio Entertainment Oyj. Sega offered to purchase all of Rovio’s outstanding shares and options, and Rovio’s board of directors accepted. The friendly takeover will cost Sega a total of EUR 706 million, or about $770 million. Things will begin on or around May 8, 2023.
Rovio is a game development company that primarily creates and publishes mobile games. Its largest and most well-known series is Angry Birds, which had its first game released in 2009. Collectively, Rovio games have been downloaded over 5 billion times.
This acquisition comes as part of Sega’s goal to “further strengthen its position in this fast-growing mobile and global gaming market.” Per an October 2022 IDG Report, the mobile gaming market is projected to grow at a compound annual growth rate of 5% from 2022 to 2026, with mobile gaming expected to represent 56% of the overall global gaming market. Sega believes that Rovio will be helpful in developing mobile and multi-platform versions of its existing IPs.
Currently, Sega is working with NieR creator Yoko Taro on a mobile game called 404 Game RE:SET. It will feature human versions of classic Sega games that cause trouble for the world around them after being turned evil. Players are tasked with purifying these characters in order to save the world.
Sega’s acquisition of Rovio will officially begin when its offer commences on or around May 8, 2023. The three-quarter-billion-dollar deal will give Sega at least 90% of all shares in Rovio.
