HELSINKI: Japanese video games group Sega has offered to buy Angry Birds maker Rovio, valuing the Finnish company at over 700 million euros ($770 million), the companies said Monday.
"Combining the strengths of Rovio and Sega presents an incredibly exciting future," Alexandre Pelletier-Normand, CEO of Rovio, said in a statement, which added that Rovio was recommending shareholders to accept the offer, reports AFP.
"Among the rapidly growing global gaming market, the mobile gaming market has especially high potential," he added.
In 2022, Rovio, which employs over 500 people, saw a revenue of 317.7 million euros, and an adjusted net profit of 31.4 million euros.
Rovio launched the bird slingshot game in 2009 and it soared rapidly to become one of the most popular games on Apple's App Store.
In 2016, the "Angry Birds" movie, produced by Sony Entertainment, was a huge success that grossed $350 million worldwide. Rovio also manages Angry Birds theme parks in several countries and oversees the publication of children's books about the famous birds in a dozen languages.
Following the global success of Angry Birds, Rovio has remained heavily reliant on its flagship game, struggling to develop another similar hit.
Sega is aiming to open the offer period in early May, hoping to complete the deal in the third quarter, the company said.
