Enlarge / Angry Birds launched in 2009 and became one of the most downloaded apps of all time. (credit: Bloomberg)
Sega Sammy, the Japanese games maker behind the Sonic the Hedgehog franchise has launched a €706 million ($776 million) offer for Rovio Entertainment, the Finnish group that gave the world Angry Birds.
The €9.25 a share offer values the mobile games pioneer at almost 20 percent below the price at which Rovio went public five and a half years ago, when it debuted with a market valuation of €896 million.
In a joint statement, Sega Sammy said it had based its bid on projections that the global gaming market would expand to $263.3 billion by 2026. In particular, it said, the share of mobile gaming would grow to 56 percent of the overall market.
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