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HomeBusinessAngry Birds to Find New Home? Rovio Entertainment Confirms Talks with Sega...

Angry Birds to Find New Home? Rovio Entertainment Confirms Talks with Sega Sammy Holdings

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Image by Abdullah Shakoor from Pixabay

Rovio Entertainment Oyj, the maker of the popular mobile game Angry Birds, confirmed that there are talks about a possible tender offer by Japanese company Sega Sammy Holdings Inc. A Saturday statement from the group announced a strategic review by the company and discussions with the Japanese amusement and entertainment giant.

The statement said, “As part of its strategic review, Rovio Entertainment Corporation confirms that it is in discussions with Sega Sammy Holdings Inc.” The statement also mentioned that “Rovio and Sega will release further information at an appropriate time.”

The statement also said that there was “no certainty” about the time of the possible tender offer nor was there any confirmation whether the deal would take place.

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According to Refinitiv Eikon data, Rovio Entertainment’s market cap was 594.1 million euros which is approximately equal to 653.5 million dollars, on Friday market close.

In January, Israeli entertainment company Playtika Holding Corp sent a 683-million-euro takeover bid to Rovio but these talks stalled by mid-March, according to Rovio

On Friday, the Wall Street Journal had reported that Sega was close to completing a deal with Rovio, to acquire the Angry Birds maker for approximately $1 billion. The outlet reported that sources said that the deal could be sealed early next week, provided the talks between the Japanese conglomerate and the Angry Birds maker do not break down.

Rovio has seen an upsurge of its share this year. The share price has risen by 28 percent to date. Sega has also seen an increase of 33 percent in its stock price. The conglomerate’s value is about 642 billion yen which is roughly 4.8 billion dollars.

Neither Sega Sammy Holdings Inc. nor Rovio Entertainment Oyj have responded when asked for confirmation or cost of the deal.

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