Sega close to buying Rovio Entertainment for $1 billion

The formalization of the takeover of Rovio Entertainment by the Japanese publisher Sega may take place in the coming days, provided that the negotiations are not interrupted or dragged out.

The well-known American daily economic and financial newspaper The Wall Street Journal claims that Rovio Entertainment executives convinced Sega to invest a billion dollars to restore the Finnish studio of Angry Birds license origin, which was seen to have dwindled in numerous derivative products (toys, books, comics, television series, movies and theme parks) since its inception. The Japanese publisher has said that there is no official decision at the moment, but it is still considering how best to increase the value of the company.

Sega is close to a deal to acquire the company behind the mobile game Angry Birds for about $1 billion https://t.co/cDAGB6xsmD

— The Wall Street Journal (@WSJ) April 14, 2023

A representative from Rovio Entertainment said:

As part of its strategic evaluation, Rovio Entertainment confirms that it is in talks with Sega. Rovio and Sega will release additional information over time. Neither the date of the possible takeover bid nor its completion is certain.

Rovio Entertainment was the target of Playtika

Last January, Israeli studio Playtika submitted a takeover bid to Rovio Entertainment for around $800 million, but discussions ended last month with no acquisition.

The press release said:

Playtika has submitted an offer to the Board of Directors of Rovio for the acquisition at a price of 9.05 euros per share in cash. The non-binding offer, which is not subject to any funding terms, was presented to Rovio’s board of directors on January 19, 2023 and represents an improvement over the initial offer of EUR 8.50 per share submitted on January 16. November 2022 Offer subject to customary terms including, but not limited to, satisfactory completion of due diligence and advice from Rovio’s Board of Directors. No agreement has been reached between Playtika and Rovio at this time and there is no guarantee that any transaction will be implemented or eventually completed.