Rovio Entertainment, the Finnish video game maker behind the popular "Angry Birds" franchise, has agreed to a $775 million (that's roughly 14 Billion Rands I'm not mistaken) sale to Japanese gaming firm Sega in a recommended cash offer of 9.25 euros per share to Rovio shareholders. Shareholders who hold shares corresponding to approximately 49.1 percent of the outstanding shares and votes in Rovio have irrevocably undertaken to accept the offer, subject to certain customary conditions.
Sega plans to use Rovio's expertise to expand its mobile offering and accelerate the development of multi-platform SEGA games. The acquisition comes after Rovio failed to achieve the same level of success it enjoyed when it launched Angry Birds in 2009. The sale is particularly important for Rovio, which has been struggling with debt of approximately €170m (roughly 3 billion hands if I'm not mistaken), and has been forced to cut jobs and restructure over the past few years.
The studio that Rovio had created to make movies and TV shows for Netflix, named Kaiken Entertainment, will continue to operate as an independent firm after the sale to Sega, and with all that being said I wonder if they will continue making stuff for Rovio as Sega on its side has been making movies and shows for its franchise like Sonic the Hedgehog and others so I guess we will just have to wait and see.
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