Sega Acquires Angry Birds Developer Rovio for $775 Million
Sega has announced plans to acquire Rovio, the Finnish game developer best known for creating the Angry Birds franchise, for €706 million / $775 million. The deal, expected to close in the second quarter of 2024, marks Sega's significant investment in the mobile gaming market following the end of its Sega Forever initiative.
The acquisition will add the wildly popular Angry Birds series to Sega's portfolio of games. In a press release, Sega attributed the move to its desire to invest in the rapidly expanding mobile play market, which it predicts to grow from 53% of the global gaming market in 2022 to 56% by 2026. The addition of Rovio's successful franchise could help Sega tap into this growing segment and increase its market share.
However, the purchase is not only about capitalizing on the revenue generated by the Angry Birds franchise. Sega plans to leverage Rovio's expertise to accelerate and expand the development of its existing IPs on mobile platforms. The Finnish company's know-how in the mobile gaming space could prove invaluable in helping Sega adapt and grow its offerings, ensuring a strong presence in the competitive mobile gaming market.
In addition to benefiting from Rovio's mobile gaming expertise, Sega aims to help Rovio expand its IP (i.e., Angry Birds) to other platforms. This move could potentially lead to even more gaming opportunities and collaborations between the two companies, enhancing the reach and impact of the Angry Birds brand and other Rovio IPs.
In conclusion, Sega's acquisition of Rovio demonstrates its commitment to expanding its presence in the thriving mobile gaming industry. By adding the Angry Birds franchise to its portfolio and leveraging Rovio's expertise, Sega is positioning itself for future growth and success in the market while also helping Rovio extend its IPs to other platforms. This strategic move could lead to exciting developments for both companies and the gaming community at large.