We first reported that SEGA Sammy had a vested interest in acquiring Finnish mobile game studio Rovio Entertainment back in April, and now it looks like the buyout is set to move forward, with shareholders for the Angry Birds studio "overwhelmingly" accepting the terms of SEGA's bid.
In a report on the Business Times, Rovio announced in a formal statement that 96.3 per cent of its shareholders agreed to the proposal from SEGA - the offer valued the mobile games company at over €700 million (around $1 billion), and the acquisition was based on the condition of an acceptance of over 90 per cent.
Image courtesy Reuters
"As the minimum acceptance condition and all other conditions to complete the offer have been fulfilled, the offeror will complete the offer in accordance with its terms and conditions," Rovio said.
The move to buy out Rovio forms part of SEGA Sammy's corporate strategy to strengthen its mobile gaming business, so no doubt we will see the fruits of that in the next financial briefings from the company soon.
![Amy and Cream [RaffP]](https://www.sonicstadium.org/uploads/monthly_2024_04/small.1.png.76beb1b8a493958e38b8ff9276f437b4.png)
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