Sega Sammy to buy “Angry Birds” developer Rovio for 706 mil. euros

Japanese game and entertainment company Sega Sammy Holdings Inc. said Monday it will acquire Finland-based Rovio Entertainment Oyj, developer of the “Angry Birds” mobile game, in a deal worth about 706 million euros ($775 million) to expand in the fast-growing mobile gaming market.

Sega Sammy said it will launch a tender offer around May 8, paying 9.25 euros per share of the Finnish company that is most famous for the smash-hit title in which players put a bird in a slingshot to hit targets.

Rovio is a leading player in mobile games with a track record of over 5 billion downloads, according to...