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Angry Birds: Sega in talks to buy video game maker Rovio Angry Birds: Sega agrees to buy video game maker Rovio
(about 2 hours later)
The Angry Birds games have been some of the most popular of the past decadeThe Angry Birds games have been some of the most popular of the past decade
The maker of the Angry Birds video games, Rovio Entertainment, has held talks with larger rival Sega Sammy Holdings over its possible takeover. The maker of Angry Birds video games has agreed to be bought by the Japanese gaming giant behind the Sonic the Hedgehog character.
In February, Rovio announced it had launched a review of the business, including holding discussions over its potential sale. Japan's Sega Sammy Holdings is paying €706m (£625m) for Finland-based Rovio Entertainment.
On Friday, the Wall Street Journal reported the deal could be worth about $1bn (£810m). Rovio has said Angry Birds was the first mobile game to be downloaded one billion times, and the brand has also produced two Angry Birds movies.
Rovio has declined to comment on the potential value of its sale. However, Rovio has yet to produce a follow-up to match its success.
But it confirmed in a statement it was in discussions with the Japanese gaming giant - maker of the popular Sonic the Hedgehog titles. That had made it a potential takeover target for bigger gaming industry companies.
On Monday, Sega Sammy said in a separate statement: "This topic will be discussed by our board of directors today, April 17, 2023, and we will announce in a timely manner when any decisions are made concerning this strategic option." Last year, the company - which has about 550 employees across its eight game studios around the world - said downloads across its stable of games had reached five billion.
Rovio held talks earlier this year with Israeli rival Playtika Holding over a potential takeover. However, those discussions ended last month without a deal. Announcing the deal, Sega said its decision to buy Rovio had been driven by the need to "strengthen its position" in the global gaming market.
Finland-based Rovio is best known for the Angry Birds brand, which started as a popular mobile game in 2009. It said this market is projected to grow to $263.3bn by 2026, with the percentage of mobile gaming expected to increase to 56%.
Angry Birds was the first mobile game to be downloaded one billion times, Rovio has said. "Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been Sega's long-term goal to accelerate its expansion in this field," said Haruki Satomi, chief executive of Sega Sammy Holdings.
It has seen several spin-off versions, and the brand has also produced two Angry Birds movies. "I feel blessed to be able to announce such a transaction with Rovio, a company that owns 'Angry Birds', which is loved across the world, and home to many skilled employees that support the company's industry leading mobile game development and operating capabilities," he added
Last year, the company said downloads across its stable of games had reached five billion. At the end of trading on Friday, Rovio had a stock market valuation of $707m (£571m).
However, Rovio has yet to come up with a follow-up to reproduce the global popularity of Angry Birds. Sega Sammy is a Japanese global holding company formed by the merger in 2004 of video game giant Sega and Sammy Corporation.
That has made it a potential takeover target for bigger gaming industry companies like Sega. Sega has produced several multi-million-selling video game franchises and is known globally for its Sonic the Hedgehog character, which has also produced two movies.
Rovio has around 550 employees across its eight game studios around the world.
As of the end of trading on Friday, Rovio had a stock market valuation of $707m (£571m).
Sega Sammy is a Japanese global holding company formed by the merger in 2004 of video game giant Sega and Sammy Corporation in 2004.
Sega has produced several multi-million-selling video game franchises and is known globally for its Sonic the Hedgehog character.
Sammy develops and sells amusement arcade machines.Sammy develops and sells amusement arcade machines.
Sega Sammy shares were around 3% lower on Monday in Tokyo.
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