Sega Sammy Holdings Inc has announced that it has agreed to acquire Rovio, creator and publisher of the Angry Birds franchise, for €706 million ($774 million). The expansion is expected to close during the second quarter of the 2024 financial year, the deal has also been approved by Rovio’s board.

Sega believes that the acquisition will help it expand in the mobile sector by allowing Rovio access to its IP. Sega has also confirmed that Rovio will help the company bring its IP to various other forms of media, citing the success of the Angry Birds movies. Sega will also assist Rovio in developing cross-platform games.

Here’s what Haruki Satomi, president and CEO of Sega Sammy, had to say:

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. Historically, as represented by the Sonic the Hedgehog series, SEGA has released countless video game titles to various gaming platforms. I am confident that, through combination of both companies’ brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward.

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