SEGA announces the purchase of the Angry Birds developer studio for 700 million euros

Rovio’s story is a difficult one as the company known for the iconic Angry Birds franchise has barely made any money since 2013.

The Finnish company that celebrated the 2 billionth download of Angry Birds in early 2014, At the end of the same year, the company only made a profit of 10 million euros.

After numerous layoffs due to poor sales of licensed Angry Birds merchandise and Angry Birds by-products, Rovio began making many changes at the top of management. Unfortunately, that didn’t help much and the Finnish company was forced to close many of its studios and continue to lay off many of its developers.

Rovio briefly returned to profitability with the success of the film Angry Birds, released in March 2017, but that didn’t help either.

Rovio became a public company in October 2017 The company was worth about $1 billion. After acquiring two other studios, PlayRaven and Darkfire Games, in 2018 and 2020, respectively, Rovio received takeover bids from several companies.

SEGA announced this this week has completed the agreement to acquire Rovio for EUR 706 million.

 

Now that Rovio is part of SEGA, it will be interesting to see if the Japanese developer will allow the studio to continue making Angry Birds games or help develop SEGA franchises.

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