Angry Birds Maker Confirms Talks With Sega Over Tender Offer

Rovio Entertainment (OTC: RVTTY), the famous Angry Birds mobile game maker, is reportedly in talks with Japan's Sega Sammy Holdings Inc (OTCMKTS: SGAMY) over a possible tender offer.

The Wall Street Journal reported on Friday that Sega is nearing a deal to acquire Rovio for approximately $1 billion.

Reuters additionally reported that Rovio had announced the start of a strategic review and preliminary non-binding discussions regarding a potential tender offer for its shares in February. 

"As part of its strategic review, Rovio Entertainment Corporation confirms that it is in discussions with Sega Sammy Holdings Inc," the company said in a statement. "Rovio and Sega will release further information at an appropriate time."

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However, Rovio added that there "is no certainty as to when the possible tender offer would take place, or whether it would take place at all," Reuters reported. 

According to a separate report by the Wall Street Journal, Rovio went public in 2017. The company was previously in talks with Playtika Holding Corp., an Israel-based rival, for a possible sellout for more than $800 million, but the deal didn't materialize. 

In 2021, Angry Birds became the first mobile game to be downloaded 1 billion times. Last year, Rovio claimed it reached 5 billion downloads across its library of games. 

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