Sega has confirmed that it is considering acquiring Angry Birds maker Rovio. Its board is set to discuss the matter today, April 17.
Rovio has also moved to confirm the potential buyout, which broke through a Wall Street Journal report on Friday.
Sega Sammy said in a statement today: “The Wall Street Journal and some other media outlets have reported that Sega Sammy Holdings Inc. is nearing an agreement to acquire Rovio Entertainment Oyj, but this was not announced by our group.”
“No formal decision has been made in this regard at this time, while it is true that we are considering such strategic option.”
“This topic will be discussed by our board of directors today, April 17, 2023, and we will announce in a timely manner when any decisions are made concerning this strategic option.”
Over the weekend, Rovio also confirmed that talks were ongoing. It said: “Rovio confirms that it is in discussions with Sega Sammy Holdings Inc. regarding a possible tender offer for Rovio’s shares.”
“Rovio and Sega will release further information at an appropriate time. There is no certainty as to when the possible tender offer would take place or whether it would take place at all, nor as to the terms of such potential tender offer.”
“Rovio does not comment on valuation estimates presented in the media due to the ongoing discussions and there can be no assurance that such estimates would reflect the outcome of the discussions.”
The Wall Street Journal’s report suggested a deal could be confirmed this week, and would value Rovio at around $1bn.