Sega Acquires Rovio: Deal Completed
After a lengthy four-month process, Sega has successfully acquired Rovio, bringing the Angry Birds creator into the Sega family. With approval from regulators and a minimum 90% ownership of Rovio shares, Sega’s acquisition is now finalized.
Origins of the Deal
Initially, there were rumors that Playtika would acquire Rovio. However, the focus shifted to Sega when strong rumors emerged about a $1 billion deal between Sega Sammy Holdings, Sega’s parent company, and Rovio. The confirmed agreement in mid-April was for €706 million, slightly lower than the initial speculation but still a significant milestone.
Since the acquisition news broke, Sega has shifted its attention away from blockchain gaming.
The Acquisition Process
The proposed deal involved Sega purchasing all of Rovio’s outstanding shares, with Sega paying €9.25 per share and €1.48 per option. The agreement required a minimum ownership of 90%. Rovio’s shareholders have now tendered 96.3% of the issued and outstanding shares, surpassing the threshold set by the deal.
Completion of the acquisition was initially scheduled for September 2023. However, the process has been concluded ahead of schedule, and the official completion is estimated to take place on August 17, 2023.
New Opportunities and Benefits
With the completion of the deal, Rovio’s integration into the Sega family opens up numerous possibilities for crossovers and collaborations between their major intellectual properties. This acquisition is expected to expand both fanbases and provide Sega with valuable insights into the mobile gaming market, leveraging Rovio’s expertise in this sector.