Japanese gaming giant Sega announced Monday it has made a 706 million euro ($776 million) offer for the maker of the Angry Birds puzzle game, Finland’s Rovio Entertainment Oyj.
The deal would be for the entirety of Rovio’s outstanding shares and options, valuing them at 9.25 euro per share, a roughly 19% premium to their closing price before the announcement, Sega said.
Rovio’s board is in support of the offer, the company added.
Rovio games have been downloaded over 5 billion times, according to the statement Monday. Meanwhile its best-known Angry Birds franchise has been licensed into other entertainment and consumer products.
The Wall Street Journal had previously reported the deal was expected to be worth around $1 billion.
Rovio shares were up 17.88% at 8:30 a.m. London time.
