Sega to Buy Angry Birds Maker Rovio in $776 Million Deal

Japanese gaming giant Sega announced Monday it has made a 706 million euro ($776 million) offer for the maker of the Angry Birds puzzle game, Finland’s Rovio Entertainment Oyj.

The deal would be for the entirety of Rovio’s outstanding shares and options, valuing the stocks at 9.25 euros per share, a roughly 19% premium to their closing price before the announcement, Sega said. It’s valuing the options at 1.48 euros.

Rovio’s board is in support of the offer, the company added.

Rovio games have been downloaded over 5 billion times, according to the statement Monday. Meanwhile, its Angry Birds franchise has been licensed into other entertainment and consumer products.

Read the source article at cnbc.com