HomeEconomySega Sammy says it's considering buying Angry Birds maker Rovio

Sega Sammy says it’s considering buying Angry Birds maker Rovio

Japan’s Sega Sammy Holdings Inc said on Monday it was considering an acquisition of Finland’s Rovio Entertainment Oyj but nothing has yet been decided, sending its shares lower amid investor doubts about the prospects for synergy.

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

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

The matter will be discussed at Monday’s board meeting, added Sega Sammy, which offers the iconic “Sonic the Hedgehog” action game series. Shares of Sega Sammy were down 4.3% by midday in a broader market that was virtually unchanged.

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Buying Angry Birds maker Rovio

“Sega Sammy’s mobile game business is focused on the domestic market, while ‘Angry Birds’ is well known overseas. The acquisition would facilitate Sega Sammy’s global growth,” Toyo Securities analyst Hideki Yasuda said.

“But there hasn’t been a big hit (from Rovio) other than Angry Birds, which was originally launched more than 10 years ago. Such news would be greeted more positively if investors saw newer technologies or greater growth potential,” Yasuda said.

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

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