Sega, the Japanese gaming company, has announced its acquisition of the Finnish mobile game developer, Rovio Entertainment, for $776 million. The deal is expected to bring together two of the biggest names in the mobile gaming industry and create a powerful new force in the market.
Rovio Entertainment is best known for creating the hugely popular mobile game, Angry Birds, which has been downloaded more than 4 billion times since its launch in 2009. The game has become a cultural phenomenon, spawning a movie, a TV series, and a range of merchandise.
Sega, on the other hand, has a long history in the gaming industry, with classic titles such as Sonic the Hedgehog and Virtua Fighter. The company has been making a push into the mobile gaming market in recent years, and the acquisition of Rovio is expected to accelerate that effort.
The acquisition is seen as a strategic move by Sega to expand its reach in the mobile gaming market, which has been growing rapidly in recent years. The deal will give Sega access to Rovio’s extensive library of mobile games, including the Angry Birds franchise, as well as its development capabilities.
The move is also expected to benefit Rovio, which has been struggling to maintain its position as a leading player in the mobile gaming market. The company has faced increased competition from new entrants and has seen its revenues decline in recent years.
The acquisition is expected to provide Rovio with the resources and expertise it needs to continue to develop new and innovative games, and to expand its reach in new markets.
The deal is expected to close in the coming months, subject to regulatory approval. Once completed, Rovio will become a subsidiary of Sega, but will continue to operate as an independent entity.
In a statement announcing the acquisition, Sega CEO, Haruki Satomi, said: “Rovio Entertainment has a proven track record of creating high-quality, engaging mobile games that resonate with audiences around the world. We are excited to welcome Rovio to the Sega family and look forward to working together to create innovative new gaming experiences for players everywhere.”
Rovio CEO, Kati Levoranta, added: “This is an exciting new chapter for Rovio Entertainment, and we are thrilled to be joining forces with Sega. With Sega’s global reach and expertise in gaming, we believe we can take our games to the next level and continue to grow our business around the world.”
Overall, the acquisition of Rovio by Sega is expected to have a significant impact on the mobile gaming industry, as two of the biggest names in the industry come together to create a powerful new force. It remains to be seen what new and innovative games the two companies will develop together, but the deal is sure to create a buzz in the gaming world.
Sega, the Japanese video game company, has announced its acquisition of Rovio Entertainment, the Finnish mobile game developer behind the popular game “Angry Birds”. The deal, worth 776 million dollars, is expected to boost Sega’s mobile gaming division and expand its portfolio of popular mobile games.
Rovio was founded in 2003 and gained international recognition with the release of “Angry Birds” in 2009. The game quickly became a cultural phenomenon, with over 4.5 billion downloads and numerous spin-offs and merchandise. However, Rovio’s revenue and popularity declined in recent years due to the oversaturation of the mobile gaming market and the failure of some of its newer games to gain traction.
Sega, on the other hand, has a long history in the video game industry and is best known for its classic console games like Sonic the Hedgehog and Virtua Fighter. In recent years, the company has shifted its focus to mobile games, with mixed success. The acquisition of Rovio is seen as a strategic move for Sega to strengthen its mobile gaming division and tap into the popularity of Rovio’s existing games and intellectual property.
The deal includes all of Rovio’s intellectual property, including the “Angry Birds” franchise, as well as its mobile game development studio in Finland and its subsidiary companies. The current Rovio CEO, Kati Levoranta, will step down from her position following the acquisition and will be replaced by a new CEO from Sega.
The acquisition of Rovio is just one of many recent moves by Sega to expand its mobile gaming division. The company has also formed partnerships with other mobile game developers, acquired smaller companies, and invested in developing its own mobile games. With the acquisition of Rovio, Sega is expected to become a major player in the mobile gaming market and compete with other giants like Tencent and Activision Blizzard.