Japanese gaming giant Sega has confirmed that it’s buying Finland’s Rovio in an all-cash deal worth €706 million ($775 million).
News first emerged back in January that Israeli mobile gaming company Playtika had tabled a €750 million ($810 million) bid for Rovio, though talks collapsed last month with no reasons provided by either company. Rovio did, however, confirm that it was still in talks with other parties, with rumors emerging over the weekend that Sonic the Hedgehog-maker Sega was in the mix.
Now, the deal is official, with Rovio noting that it expects the deal to close in Q2 of its current fiscal year, meaning some time in the next couple of months — subject to “certain customary conditions.”
Sega’s offer represents a 63.1% premium on Rovio’s closing price on January 19, the last trading date before reports first emerged of a potential acquisition, and a 19% premium on Rovio’s final closing price on Friday,