Sega Sammy Holdings Inc. of Japan has agreed to make a 706 million euro ($775.8 million) offer for Finland's Rovio Entertainment, the company behind the popular Angry Birds mobile game.
To acquire Rovio, Tokyo-based Sega will make an offer of 9.25 euros per share, a 19% premium over the company's closing price of 7.775 euros.
Rovio, which has been reviewing its strategic direction, revealed that it was in discussions with Sega regarding a potential tender offer. A transaction between the two businesses was said to be imminent on Friday, according to sources.
Israeli rival Playtika had made an initial offer to purchase Rovio for 683 million euros in January, but the Angry Birds creator stated last month that negotiations had ceased.
With its headquarters in Shinagawa, Tokyo, Sega Corporation[a] is a worldwide Japanese video game and entertainment corporation. Sega of America and Sega Europe, its two international divisions, have their separate headquarters in Irvine, California, and London. Since 2020, Sega Games, its subsidiary for creating both arcade and home video games, has been in its current form; prior to that, the two had been independent companies named as Sega Games and Sega Interactive Co., Ltd. Sega Sammy Holdings' subsidiary is Sega. Sega also created video gaming systems from 1983 to 2001.