Today Japan's Sega Sammy Holdings Incorporated declared its intention to fully acquire Finnish development studio Rovio Entertainment Oyj in a buyout valued at a cool $776 million. The Helsinki-based developer, responsible for creating the Angry Birds video game franchise, has agreed to Sega Sammy's terms - and Rovio share values have climbed as a result of this announcement. The deal is expected to be finalized in the late summer or early autumn of this year, and signals an ambition on Sega's part to gain prominence in the mobile gaming world. Rovio had previously turned down a proposed takeover by Playtika - an Israeli company specializing in digital entertainment - for $735 million, late last month.

Angry Birds was the first mobile game to be downloaded one billion times, according to figures released by Rovio, so Sega has acquired a solid intellectual property that has also expanded into the movie world (two animated features) and endless merchandising avenues (toys, clothing and other accessories). Commenting on the buyout, Haruki Satomi, President and Group CEO, Representative Director of Sega Sammy Holdings Inc. said: "Among the rapidly growing global gaming market, the mobile gaming market has especially high potential, and it has been Sega's long-term goal to accelerate its expansion in this field."Satomi-san continues: "I feel blessed to be able to announce such a transaction with Rovio, a company that owns "Angry Birds", which is loved across the world, and home to many skilled employees that support the company's industry leading mobile game development and operating capabilities. Historically, as represented by the "Sonic the Hedgehog" series, Sega has released countless video game titles to various gaming platforms. I am confident that, through combination of both companies' brands, characters, fanbase, as well as corporate culture and functionality, there will be significant synergies created going forward."

Industry analysts are anticipating that Rovio's development teams will begin work, later this year, on existing Sega intellectual properties for the mobile gaming space, given that the market is estimated to grow by another 56% in three years' time. Sega has expanded its game studio empire via a wide range of international acquisitions over the years - most notably in the shape of Creative Assembly (Total War series), Sports Interactive (Football Manager), Atlas (Persona) and Relic Entertainment (Company of Heroes).

Alexandre Pelletier-Normand, CEO of Rovio, sounded pretty stoked about today's offer: "I grew up playing Sonic the Hedgehog, captivated by its state-of-the-art design. Later, when I played Angry Birds for the first time, I knew that gaming had evolved into a true mainstream phenomenon, with the power to shape modern culture. Joining Rovio has been an honor and I am proud to have seen Angry Birds continue to grow, as we released new games, series and films. Less known but equally impressive is our industry-leading proprietary technology platform, Beacon, holding 20 years of expertise, allowing tight-knit teams to develop world-class GaaS products. Our mission is to "Craft Joy" and we are thrilled at the idea of using our expertise and tools to bring even more joy to our players, enhancing and expanding Rovio's and Sega's vibrant IPs. Red and Sonic: two globally recognized and iconic characters made by two remarkably complementary companies, with a worldwide reach that spans mobile, PC/console, and beyond. Combining the strengths of Rovio and Sega presents an incredibly exciting future."