Sega Sammy Holdings Inc of Japan has announced that it will acquire Rovio Entertainment of Finland for $775.8 million.
Rovio is responsible for developing the popular smartphone game Angry Birds.
After announcing it was undergoing a strategic review, Rovio revealed it was in talks with Sega about a possible tender offer.
The CEO of Sega Sammy Holdings, Haruki Satomi, stated in a statement, “I am confident that, through a combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward,”.
Red, the lead character in Angry Birds, and Sonic the Hedgehog, according to Rovio CEO Alexandre Pelletier-Normand, are “two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond.”
Rovio revealed last month that talks had come to an end with Israeli rival Playtika, which had made an initial offer to purchase the company for 683 million euros in January.
The Angry Birds franchise, like Sonic for Sega, has aggressively licensed its characters for use in media beyond video games.
Founded in 1960, Sega is famous for creating the Sonic the Hedgehog and Total War video game series.
Buying Rovio will offer Sega access to arguably the most well-known mobile gaming franchise.
According to Rovio, its games have been downloaded over 5 billion times.
According to the announcement made by Sega regarding the deal, the transaction is anticipated to be finalized between the months of July and September, provided that it receives approval from relevant regulatory authorities.
Read more on Tech Gist Africa:
InstaDeep, an AI startup founded in Tunisia, have been acquired for $684 million