A model of Angry Birds character ‘Red’ sits on display inside the reception area of the Rovio Entertainment Oy headquarters in Espoo, Finland, on Thursday, Feb. 28, 2019.
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The deal would be for the entirety of Rovio’s outstanding shares and options, valuing them at 9.25 euro per share, a roughly 19% premium to their closing price before the announcement, Sega said.
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 best-known Angry Birds franchise has been licensed into other entertainment and consumer products.
The Wall Street Journal had previously reported the deal was expected to be worth around $1 billion.
Rovio shares were up 17.88% at 8:30 a.m. London time.