SEGA wants to officially acquire Angry Birds developer Rovio Entertainment. The two companies announced this on Monday. The company has made a bid of 706 million euros for the Angry Birds creator. Rovio confirmed last weekend that it was in talks with SEGA.
SEGA has entered into an agreement with Rovio, the two companies confirm in a press release. SEGA intends to acquire all outstanding shares of Rovio for an amount of 706 million euros. Rovio’s Board of directors agreed to that offer. The acquisition has yet to be approved by market regulators. The acquisition is expected to close in the third quarter of SEGA’s fiscal year 2024. That quarter ends on December 31, 2023.
Rovio had been in talks with companies for a long time for an acquisition. In February, Rovio announced it was launching a strategic investigation and held non-binding talks about a possible takeover bid for shares of the Angry Birds creator. The company was previously in talks with Israeli company Playtika, which made a bid of 683 million euros for the Angry Birds creator. However, those talks were called off last month. Rovio already confirmed last weekend that it was in talks with SEGA for a possible acquisition, although no concrete agreements had yet been made at that time.