SGAMF - Sega Sammy reportedly close to deal for 'Angry Birds' maker Rovio
2023-04-14 17:30:07 ET
- Sega Sammy ( OTCPK:SGAMY ) is reportedly closing in on a deal to buy Rovio Entertainment ( OTC:ROVVF ), the Finnish maker of addictive bug aging mobile hit Angry Birds.
- That deal may come as soon as early next week and at a valuation of about $1B, The Wall Street Journal reported .
- Japan's Sega Sammy -- the result of the 2004 combination of iconic game-system maker Sega and slot-machine company Sammy -- has such game successes in its past as the Sonic the Hedgehog franchise.
- And adding Angry Birds would mean more hit intellectual property: The game, released in the early years of smartphones, was the first to be downloaded 1B times, Rovio said, but has aged considerably.
- Israel-based Playtika ( NASDAQ: PLTK ) had entered preliminary talks to acquire Rovio, and offered about a 60% premium to Rovio's stock price , but said in March 22 that those talks had ended.
- The $800M-plus offer likely failed to go through thanks to heavy insider interest at Rovio, with nearly half of shares closely held .
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Sega Sammy reportedly close to deal for 'Angry Birds' maker Rovio