Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Home Headlines Sega Sammy says it is considering buying Angry Birds maker Rovio
Headlines

Sega Sammy says it is considering buying Angry Birds maker Rovio

by Uma

Sega Sammy says it is considering buying Angry Birds maker Rovio

TOKYO (Reuters) – Japan’s Sega Sammy Holdings Inc said on Monday it was considering acquiring Finland’s Rovio Entertainment Oyj but that nothing had been decided yet, sending its shares lower amid investor doubts about synergy prospects.

The Wall Street Journal reported last week that Sega Sammy was nearing a deal to buy the Finnish firm behind the mobile game Angry Birds for about $1 billion. Rovio has said it was in talks with Sega Sammy over a possible tender offer.

“No formal decision has been made in this regard at this time, while it is true that we are considering such strategic option,” Sega Sammy said in a statement.

The matter will be discussed during a board of directors meeting on Monday, added Sega Sammy, which offers the iconic action game series “Sonic the Hedgehog”.

Sega Sammy shares fell 4.3% by midday in a broader market that was virtually unchanged.

“Sega Sammy’s mobile gaming business is centred on the domestic market, while ‘Angry Biards’ is well known overseas. The acquisition would make it easier for Sega Sammy to grow globally,” Toyo Securities analyst Hideki Yasuda said.

“But there has been no big hit (from Rovio) other than Angry Birds, which was originally launched more than 10 years ago. The news would have been welcomed more positively if investors had seen newer technologies or more growth potentials,” Yasuda said.

Rovio received a 683 million euro ($750 million) takeover bid in January from Israeli peer Playtika Holding Corp, but the talks were called off last month.

($1 = 0.9112 euros)

 

(Reporting by Kiyoshi Takenaka; Editing by Himani Sarkar)

 

Recent Post