Rovio Entertainment Oyj, the company that developed Angry Birds and is based in Finland, has revealed that it has entered into discussions with Sega Sammy Holdings Inc. over a prospective purchase offer.
“There is no certainty as to when the possible tender offer would take place or whether it would take place at all, nor as to the terms,” Rovio said in a statement on Saturday. Earlier, people familiar with the matter said the Japanese video game maker could announce a deal for Rovio on Monday, pending the outcome of talks.
Published: Sega to buy Angry Birds creator Rovio, according to people familiar with the matter. The deal could be announced as early as Monday, though Sega said no final decision has been made on a deal.
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Regarding an estimated valuation, Rovio declined to comment. According to the Wall Street Journal, a $1 billion deal between Sega and Rovio is about to be finalized.
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Rovio Relies on Angry Birds
The Bird franchise commands the majority of game sales.
Sega Sammy Holdings Inc. is nearing a deal to buy Finland-based Angry Birds-creator Rovio Entertainment Oyj pic.twitter.com/E6ZQcALM1H
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Before Rovio’s statement, a Sega spokeswoman stated that no “final decision” had been taken on any offer and that the business was still determining the best way to “enhance its corporate value.”
On February 6, Rovio declared that it had begun a strategic review and had engaged in non-binding talks with several parties, including Playtika Holding Corp., which had made an acquisition offer of €9.05 per share. Rovio announced on March 22 that negotiations with Israel-based Playtika had ended, which caused its shares to fall by the most since August.
Rovio’s stock has increased by 28% so far this year. In Helsinki, they rose 1.1% to €7.78 on Friday, giving the business a market worth of €645 million ($709 million).
Sega has increased 33% this year, increasing its market worth to 642 billion yen ($4.8 billion), supported by solid results and predictions.