Game company Sega has concluded a deal to buy out Finland-based Rovio Entertainment for $776 million.
Japan’s Sega recently announced that it will be buying out Rovio Entertainment, just weeks after the game ‘Angry Birds’ was updated and re-released on iOS. Alexandre Pelletier-Normand, CEO of Rovio, said that the company’s mission to ‘Craft Joy’ will be realized alongside Sega’s other IPs.
Haruki Satomi, the CEO of Sega Sammy, said that the company’s target is to improve Sega’s position in the mobile game industry. Satomi mentioned that Sega is planning to accelerate its expansion in the mobile gaming market, then to PC and consoles, and that Rovio should be able to support its efforts through its leading operating capabilities and innovative mobile game development.
Sega offered a whopping 706 million euros, or roughly $776 million to close the sale in Rovio stock valuation, which was $10.23 per share at the closing time.
