What would you do if you had $776 Million to spend? If you’re Sega, you’ll drop it on purchasing Rovio Entertainment, the Finnish-founded studio behind the Angry Birds games.
As of yesterday, Sega and Rovio Entertainment have come to a deal where Sega Sammy Holdings will pay $776 million for the acquisition, which includes all eight of Rovio’s global studios. According to the parties involved, this purchase will strengthen Rovio’s position in the mobile gaming world, which has been the company’s main focus since its conception.
It’s worth noting that while Rovio is known for Angry Birds, it’s hardly the only game the studio has under its belt. From games like The Croods, Nibblers and Retry, Rovio has truly made a mark on the mobile gaming industry.
Angry Birds, the studio’s magnum opus, was released in 2009 as a paid app. Within the first six months, it had already hit the #1 spot on the App Store, and by 2012, it had been downloaded over a billion times.
Sega investing in the studio makes sense as the company reckons the mobile market will be worth $263.3bn by 2026 and represent up to 56% of the games industry.
“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. 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”- Sega Sammy Group CEO Haruki Satomi.
As of this morning, Rovio’s board has approved the deal, and the friendly takeover is expected to close by the end of this year.